Infosys to buy 75% stake in ABN AMRO Bank subsidiary for $143 million

Infosys Technologies, the country’s second-largest information technology services entity, said it would acquire 75 per cent of the equity in Stater NV, a subsidiary of Dutch-based ABN AMRO Bank, for Euro 127.5 million ($143.1 million).

Stater is a business process management (BPM) provider, offering end-to-end mortgage administration services in The Netherlands, Belgium and Germany.

Infosys will acquire the 75 per cent stake through its Infosys Consulting subsidiary. The rest of the holding will remain with ABN AMRO, which will also continue as an important client to Stater, the company said.

The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance. “This transaction strengthens our approach to offer clients digital platforms and industry-focused solutions. It brings together our complementary capabilities,” said Mohit Joshi, president at Infosys.