Under a definitive agreement, Infosys BPO Ltd., a subsidiary of Infosys Technologies, will acquire all of McCamish Systems LLC’s outstanding interests. The combination is expected to enable McCamish, which provides solutions to the insurance and financial services industries leveraging their proprietary VPAS, PMACS and Deferral+ platforms, to service larger portfolios of transactions for clients and expand into global markets. This will establish Infosys as a key player in providing business platform services.
The upfront consideration for the deal is $38 million with up to an additional $20 million 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.
"We look forward to this combination with McCamish, and welcome an exceptional group of professionals with strong skill sets to the Infosys family, who will enrich our service capabilities in the USA," says Amitabh Chaudhry, CEO and MD, Infosys BPO. "The deal will enable us to bring together a convergence of operations and technology. Infosys BPO has in-depth knowledge of the insurance and financial services sector, and this deal reinforces our leadership position in providing business platform services. Also, this will contribute positively to our strategy of growing non-linear revenue."
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