Infosys, India's second-biggest IT services company, said on Thursday it would buy a 75 per cent stake in ABN AMRO Group NV's mortgage administration services system for 127.5 million euros ($143.53 million).
Infosys will acquire the stake in Stater NV through unit Infosys Consulting and the transaction is anticipated to close in the first quarter of fiscal year 2020.
This remains in line with Infosys' method to reinforce its home mortgage servicing abilities in Continental Europe, the software application services company stated in a statement.ABN AMRO will continue to hold the remaining 25 per cent stake in Stater, which operates in the Netherlands, Belgium and Germany.Infosys shares rose as much as 2.15 percent to hit an intraday high of Rs 744.70 each on the BSE.
At 2:10 pm, the Infosys stock traded 1.87 per cent higher on the stock market, surpassing the benchmark index Sensex which was up 350.95 points - or 0.92 percent - at 38,483.83.($1 = 0.8883 euros)Get the latest election news, live updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/ elections.
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