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Infosys acquires stake in ABN Amro subsidiary

Infosys Technologies said it is acquiring 75% equity in Stater, a subsidiary of ABN Amro Bank, for Euro 127.5 million ($143.1 million). Stater is a business process management service provider, offering end-to-end mortgage administration services in the Netherlands, Belgium and Germany. Infosys will acquire the stake through its Infosys Consulting subsidiary. The rest of the holding will remain with ABN Amro Bank, which will also continue as an important client to Stater. The all-cash transaction is likely to be completed in the first quarter of 2020, subject to regulatory clearance. Mohit Joshi, president, Infosys, said this transaction strengthens the company’s approach to offer clients digital platforms and industry-focused solutions. It brings together the company’s complementary capabilities, he added.

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