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Aetna join hands with Infy for IT initiative - Views on News from Equitymaster
 
 
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  • Nov 18, 1999

    Aetna join hands with Infy for IT initiative

    Aetna Inc. of USA, a leading managed healthcare and financial services company, has selected Infosys Technologies to head its infotech (IT) initiative. This was reported by a leading financial daily.

    Aetna is leading provider of health and retirement benefit plans and financial services with three core businesses - Aetna US Healthcare, Aetna Financial Services and Aetna International. The company provides 40 m people worldwide with quality products, services and information that help them manage their health and financial well-being. Through strategic alliances Aetna also provides group benefits in more than 68 countries, and markets investment products worldwide.

    Aetna revealed that Infosys will play a critical role in supporting Aetna US Healthcare and Aetna Financial Services in formulating strategic infotech (IT) initiatives. Earlier, Infosys was shortlisted along with two other companies. Aetna plans to set up an information cybersystem for healthcare - e-Health, which will network patients, doctors, hospitals, and service providers to Aetna. The company will also offer Internet access to its customers.

    Aetna's selection of Infosys to head its IT operations lends credence to the view that Indian software companies can hold their own against their international peers. Last month ING Barings of the Netherlands had selected BFL Software to provide IT solutions for its global operations. As these companies bag large projects from prestigious clients, they will be able to move up the IT value chain from providing IT solutions to IT consultancy.

    As far as Infosys in concerned, its tie-up with Aetna will enable the company to acquire expertise in the US healthcare and financial services businesses. If it executes the projects successfully, it will provide the fillip for the company to bag more projects from other clients, both inside and outside the US.

    Market view:
    Analysts have taken note of Infosys' 131% rise in 2QFY2000 net profit. They have forecasted higher net profit growth for the last two quarters of FY2000. The main reason for this is the higher volume of high-value projects that the company will be undertaking in future. Analysts have retained a 'BUY' rating on the company.

     

     

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