Narayana Murthy’s major move is that Infosys will acquire another company for Rs 307 crore, whose business is…
This was a few hours after Infosys announced its fourth-quarter results, reporting net profit fell 11.7% to Rs 703.3 crore.
Narayana Murthy’s Infosys announced plans to acquire US$36 million (approximately Rs 3,0.44 crore) of technology and business consulting firm MRE Consulting in an all-cash deal. The company will acquire a consulting company through its wholly owned subsidiary Infosys Nova Holdings LLC. The acquisition is expected to end in the first quarter of fiscal 26 (April to June). This was a few hours after Infosys announced its fourth-quarter results, reporting net profit fell 11.7% to Rs 703.3 crore. According to regulatory documents, the cost of acquiring MRE consulting will be “up to $36 million, including upfront and earning, excluding management incentives and retaining bonuses.” The company statement said the acquisition provides Infosys with updated transaction and risk management capabilities, especially in the energy sector. As of April 17, Infosys’ market capitalization is currently at Rs 5.88 crore.
“Houston, Texas-based MRE Consulting will bring a team of more than 200 professionals with industry knowledge, consulting and deep technical experience in the energy/commodity trade and risk management (E/CTRM) platform and ecosystem,” the document says. Founded in 1994, MRE Consulting in Texas provides technical and business consulting services to the energy and utilities, services and healthcare industries. “By combining MRE Consulting’s deep E/CTRM capabilities with Infosys’ established leadership in energy, resources and utilities, we are further enhancing our ability to drive value for our customers in business-critical areas.
Read | Bad news from Narayana Murthy as Infosys Q4 profit cuts rupees…
(Input with PTI)
