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Infosys sets sights on Europe - Views on News from Equitymaster
 
 
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  • Dec 11, 1999

    Infosys sets sights on Europe

    IT major, Infosys is enhancing its presence in Europe with the objective of maximising revenues from that region.

    Infosys is India's premier software solutions company. Over the years, it has moved up the value chain from an onsite to offshore developer, then to product development, and finally towards providing complete solutions. In FY99, it became the first Indian company to list its shares on the NASDAQ.

    After having achieved a fair degree of recognition in the US markets, Infosys has shifted focus on Europe. With this aim in mind, the company has set up two offices in a Scandinavian country, as well as Belgium. Earlier, the company had opened offices in Frankfurt and Brussels. Infosys is also augmenting its manpower strength in Europe.

    As reported by a leading business daily, Infosys has already made its presence felt in Europe by bagging a US$ 20-25 m order from an insurance company. Infosys is currently targeting companies in Europe in areas of financial services and distribution and logistics management. The company has three major clients - Sainsbury, the retail chain, Reebok, leading sportswear company and Nestle SA, food major.

    After the US, Europe is definitely the most lucrative market for software. Europe has its share of conglomerates, and a sizeable number of Fortune 500 companies are based there. Demand from these companies for software solutions and products, e-commerce related solutions, ERP is very high. Indian companies with an edge in manpower capabilities and lower costs have an important role to play in this region.

    While most Indian software companies have been enamoured by the US and have targeted mergers and acquisitions in that region, Europe has had to play second fiddle. To that extent, Infosys has identified correctly the potential in this region.

    Market view:
    Analysts forecast higher net profit growth for Infosys in 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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