To enhance its capability to deliver services for insurance and financial services industries
Infosys BPO, the business processing outsourcing subsidiary of Infosys Technologies, has entered into a definitive agreement to acquire all of the outstanding interests of McCamish Systems, based in Atlanta, Georgia in the US. The acquisition is expected to be completed later this year.
The company said that the upfront consideration for the deal is $38m with up to an additional $20m payable to the sellers if McCamish Systems achieves certain financial targets in the future. The acquisition is expected to enhance Infosys’ capability to deliver business services for the insurance and financial services industries.
The combination is expected to allow McCamish to service larger portfolios of transactions for clients and expand into global markets.
Amitabh Chaudhry, CEO and MD of Infosys BPO, said: We look forward to this combination with McCamish, and welcome an exceptional group of professionals with strong skill sets to the Infosys family who will enrich our service capabilities in the USA.
“The deal will enable us to bring together a convergence of operations and technology. Infosys BPO has in-depth knowledge of the insurance and financial services sector, and this deal reinforces our leadership position in providing business platform services. Also, this will contribute positively to our strategy of growing non-linear revenue.
Gordon Beckham Jr, president and CEO of McCamish Systems, said: Leveraging the domain expertise of our associates and platforms with Infosys’ industry-leading technology and BPO capabilities will be a game changer for the insurance and financial services industries.