Infosys spent Rs 3,302 crore for buys last fiscal

BENGALURU: Infosys invested Rs 3,302 crore to acquire or take majority stake in some companies during the previous financial year, its annual report showed, as the company moved to extend capabilities into emerging technologies and focused industry sectors.

Earlier in February, Infosys Nova Holdings LLC, a wholly owned subsidiary of the Rs 90,971-crore software services exporter, acquired US-based Salesforce advisor Simplus for about Rs 1,892 crore ($250 million).

In April last year, Infosys Consulting Pte acquired 81% of voting interests in HIPUS for about Rs 206 crore. HIPUS is a wholly owned subsidiary of Japan’s Hitachi Ltd and handles procurements for the Hitachi Group. In May 2019, Infosys Consulting Pte Ltd, another wholly owned subsidiary, completed the acquisition of 75% stake in Stater, a completely owned subsidiary of the Netherlands-based ABN AMRO Bank, for nearly Rs 1,195 crore. Stater brings European mortgage expertise and a robust digital platform to the table, Infosys said at the time.