Infosys acquires ABN arm

Infosys on Thursday said it was picking up a 75 per cent stake in Stater N.V, a wholly owned subsidiary of ABN Amro Bank N.V, in an all-cash deal worth Euro 127.5 million (around Rs 990 crore).

Stater, founded in 1997, provides end-to-end mortgage administration services in the Netherlands, Belgium and Germany. It is a market leader in the Benelux (Belgium, Netherlands & Luxembourg) region, operating across the mortgage and consumer lending value chain with strong capabilities in digital origination, servicing and collection.

For Infosys, the acquisition is expected to bring deep European mortgage expertise and a robust digital platform to drive better customer experience. A statement from the Bangalore-based firm said the current management team of Stater would continue to steer the company.