Stock Watch

Infosys Technologies, India's second major software services firm, has informed that its outsourcing arm Infosys BPO has decided to purchase US-based McCamish Systems.

The acquisition deal will entail an investment of $38 million (approximately Rs 176 crore).

In a declaration, the company said that it will give another $20 million if US-based firm meets certain objectives in the future.

In a filing to Bombay Stock Exchange (BSE), functionaries of Infosys Technologies stated that the subsidiary (Infosys BPO) of the company has inked a definitive pact in order to purchase the whole outstanding interests of McCamish Systems LLC.

The sources informed that the acquisition is likely to be finalized later in the current financial year.