Infosys sticks to revenue guidance; looking for buyouts

18 Nov 2008

Infosys Technologies has termed the current global environment as “difficult and challenging” but said it is sticking to its quarterly and FY09 revenue guidance for now. The Bangalore based company is also scouting for acquisitions of up to $700 million in areas such as consulting, SAP implementation and BPO, and geographies including Europe and Japan.

Infosys, last month, cut its dollar revenue guidance for fiscal 2009 by six percentage points. It now expects revenues to be between $4.72-4.81 billion. Also the company has given a third quarter revenue guidance of $1,175-1,220 million.

Infosys is still looking for buyouts that make strategic sense where it can integrate the entity and grow. Infosys had made a bid for buyout of Axon late-August, by putting a £407 million offer on the table. However, HCL trumped that bid with a 650 pence a share offer, an 8 per cent premium over Infosys’ offer.crackcrack
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Puchho Befikar
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