Infosys Awarded Multi-year Global BPO Contract by Royal Philips Electronics
- Among the largest F&A deals in BPO from India
- Expands Infosys' global network; 1400 skilled BPO staff to join Infosys
Bangalore, India - July 25, 2007: Infosys Technologies Ltd (NASDAQ: INFY) today announced that it has signed a multi-million dollar outsourcing contract with Royal Philips Electronics (NYSE: PHG, AEX: PHI) ("Philips") of the Netherlands. As part of the agreement, Philips will enter into a multi-year contract with Infosys BPO to provide Finance & Accounting (F&A) services and the processing of purchasing orders. Infosys will also acquire three shared service centers located in India, Poland and Thailand from Philips. The contract is amongst the largest Finance & Accounting BPO engagements from India and will expand Infosys' global network, particularly strengthening its European operations.
"Infosys clearly demonstrated a willingness to invest in people with a strong HR process, better solution quality, ability to leverage end-to-end process improvements and a robust risk mitigation and transition plan. Their leadership capabilities were clearly evident in all interactions and proposal submissions, with a strong focus on the customer," said Gerard Ruizendaal, Chief Strategy Officer and Group Controller for Royal Philips Electronics.
The deal extends Infosys' global network with new centers in India, Poland and Thailand. Infosys will gain approximately 1,400 Philips professionals who will add to the Infosys BPO team a wide range of valuable skills and abilities, which include diverse language capabilities, technical expertise and domain knowledge.
"Global corporations require transformation partners like Infosys to enhance their competitiveness in the flat world," said S. Gopalakrishnan, CEO, Infosys Technologies Limited. "We are excited to partner with Philips to take their F&A and procurement functions to the next level of transformation," he added.
The deal with Philips reinforces Infosys' leadership position in transformation-based BPO services. Infosys BPO has seen significant growth of over 70% in revenues and an increase in client base of over one-third in FY2007.
"During our interactions with the Philips employees, we found them to be very bright with a high level of energy and strong skill-sets. We look forward to welcoming them to the Infosys family," said Amitabh Chaudhry, CEO, Infosys BPO. "The deal will further enhance our capabilities and make us one of the top 5 players in the F&A outsourcing space in the world."