Infosys Technologies Ltd has signed a multi-million dollar outsourcing contract with Royal Philips Electronics’ (“Philips”) of the Netherlands.


Highlights:

• TCV: US$250 M
• Contract Duration: 7 years
• Philips will enter into a multi-year contract with Infosys BPO to provide F&A services and the processing of purchasing orders
• Infosys will also acquire three shared service centers located in India, Poland and Thailand from Philips for US$28 million
• This contract is amongst the largest Finance & Accounting BPO engagements from India and will expand Infosys’ global network, particularly strengthening its European operations

About PhilipsRoyal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 125,800 employees in more than 60 countries worldwide. With sales of EUR 27.0 billion in 2006, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. For more info visit www.philips.com/