Expands Operations in Singapore by Opening a New Development Center Plans to Hire 600+ Employees over the Next Six to Nine Months
Singapore, October 19, 2011
Infosys Limited (NASDAQ: INFY) today inaugurated its new Development Center (DC) at the Changi Business Park Crescent in Singapore. Serving as its regional hub in South-east Asia, the new Singapore DC will play a strategic role in the company's operations, allowing it to drive business opportunities in the region. Mr. Ashok Vemuri, Member of the Board, Infosys Limited. along with Mr. Gerald Chan, CEO and Country Head UBS Singapore, jointly inaugurated the new DC. Other senior leaders associated with the Singapore DC were also present for the inaugural ceremony.
The new Singapore DC is spread over 25,000 sq. ft. of space and can currently seat up to 450 people. Infosys plans to expand this facility to seat 1,000 people by end of 2012. The company is also strengthening its employee base in Singapore and has already hired 34 graduates from the top three Singaporean Universities. Over the next six to nine months, Infosys plans to hire over 600 fresh engineers as well as experienced professionals at the DC.
Speaking at the inaugural ceremony, Mr. Ashok Vemuri said, "Infosys has been present in Singapore for the past seven years and the country serves as our regional hub allowing us to address business demands in the South-east Asian market. We now plan to make Singapore our innovation hub and deliver high-quality service capabilities to clients across verticals. With its excellent infrastructure and a large talent pool of over 8,000 fresh IT engineers entering the market each year, it offers a conducive environment to drive business opportunities in the region."
Mr. Feroz Syed, Delivery Manager, Infosys Limited. has been appointed as the head of the Singapore DC. A veteran in the IT industry, Feroz takes over this role from his current role of Delivery Manager, Financial services and Insurance unit at Infosys. As the head of Singapore DC, Feroz will be responsible for the company's strategy and growth in the region.
Many of the world's most successful organizations rely on the 142,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise. For more information about Infosys (NASDAQ: INFY), visit: www.infosys.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended September 30, 2010, December 31, 2010 and June 30, 2011.These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
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