Infosys BPO to acquire McCamish Systems

Infosys BPO Ltd., the business processing outsourcing subsidiary of Infosys Technologies, announced the signing of a definitive agreement to acquire all of the outstanding interests of McCamish Systems LLC, a premier business process solutions provider, based in Atlanta, Georgia in the United States. The acquisition is expected to be completed later this year subject to the satisfaction of certain closing conditions. The upfront consideration for the deal is US$38mn with up to an additional US$20mn payable to the sellers if McCamish Systems achieves certain financial targets in the future. The acquisition is expected to enhance Infosys’ capability to deliver end-to-end business solutions for the insurance and financial services industries. Founded in 1985, McCamish Systems provides innovative solutions to the insurance and financial services industries leveraging their proprietary VPAS, PMACS and Deferral platforms. The company counts half of the top 20 insurers among its many clients. For the year ended December 31, 2008, McCamish Systems reported revenue of US$38.2mn. The company has about 260 employees based in their Atlanta delivery center.