News Roundup: Infosys eyes IT, BPO arms of European companies

16 March, 2016

Infosys is looking to acquire technology and back-office services arms of European companies as they open up to the idea of outsourcing such work with an eye on cutting costs. The deals that Infosys is chasing could give it committed business worth $40- $250 million (Rs 240 crore-Rs 1,500 crore) over three to five years, the Europe head of India’s second-largest software firm said. “There are quite a few opportunities we are participating in. For clients, it is about cost-optimisation but at the same time they don’t want employees to be impacted,” said Infosys board member BG Srinivas. “We are open to rebadging employees because we are continuing to invest in Europe.” ()

ASK Property to invest up to Rs 500 crore by fiscal-end: ASK Property Investment Advisors plans to invest up to Rs 500 crore in mid-income residential projects by this fiscal end. “We are upbeat about India’s real estate growth story. We intend to invest up to Rs 500 crore in various mid-income residential projects by this fiscal end,” said ASK Investment Managers CEO and Managing Director Sunil Rohokale. “We have committed entire Rs 350 crore by investing in seven projects. As far as the second fund is concerned, we have already committed investments to the tune of Rs 500 crore in five projects,” he said. The ASK Group has been concentrating only on mid-income residential projects coming up in five cities, including Mumbai, Pune, Delhi (NCR), Chennai and Bangalore, he said. ()

Roselabs plans to raise Rs 100 crore through private equity: Roselabs Ltd plans to raise Rs 100 crore through private equity to expand its operations. “We are looking at raising Rs 100 crore through private equity to fund our expansion plans. We are also talking to some financial institutional players to raise funds,” Roselabs Director Zameer Agarwal. The company will now focus on making empty glass and polymer syringes, contract manufacturing, development of any formulation in PFS, development of customised drug delivery system and marketing formulations under its own brand name, Agarwal said. Roselabs Group has set up the first of its kind complete end-to-end pre-filled syringes (PFS) making facility in the world. ()

Courtesy: VCCEdge


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News Roundup: Infosys eyes IT, BPO arms of European companies

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