Wednesday, August 22, 2007

Aug 21, 2007: Infosys Technologies Limited (NASDAQ: INFY) today announced the creation of the company’s first Latin American subsidiary, and the opening of the development center and office for the region based in Monterrey, Mexico.

The subsidiary, Infosys Technologies S. De RL De CV, provides the company’s full range of business consulting and information technology services for clients in all industries including banking, financial services, retail, consumer packaged goods, resource, energy and utilities.

The center provides key offerings in business process outsourcing, infrastructure management and packaged solutions implementation.

Often referred to as “nearshore facilities,” such operations provide client solutions in time zones which are more convenient to clients and still provide access to processes, systems, services and talent globally. The Monterrey facility provides Infosys with the dedicated resources to service clients in North America, Latin America and Europe with bi-lingual talent in an agreeable time zone and close proximity. Furthermore, it strengthens the company’s global delivery model capabilities and joins such new facilities already on the network such as a development center in Brno, Czech Republic and BPO facilities in India.

“The world continues to flatten, unlocking Mexico’s potential as a major business center and solidifying its role as a strategic location for technology innovators such as Infosys,” said Mexico Secretary of the Economy Dr. Eduardo Sojo.

After examining several countries in the region, Infosys chose to establish a presence in Mexico because of the broad language skills available in the region, its geographical proximity to Canada, the U.S. and Europe. Latin America is a strong emerging market and one where many of Infosys’ clients have operations already.

“The combination of human and intellectual capital, nurturing business community and entrepreneurial spirit found in Monterrey positions the state for amazing IT service growth,” said Governor of the State of Nuevo Leon Jose Nativdad Gonzalez Paras.
Infosys has appointed Mohit Joshi to head the new subsidiary. Joshi, formerly a group engagement manager with the company’s banking and capital markets organization has more than 12 years of client and leadership experience.

“Our clients are exploring opportunities to mitigate risk while expanding operations into the burgeoning market,” said S. Gopalakrishnan, chief executive officer, Infosys Technologies. “The facility will help us establish our services in the Central time zone which allows us to provide better support to our clients located across multiple geographies.”
For the first year, Infosys Technologies S. De RL De CV will have more than 250 seats. By its third year of operation, the Monterrey facility is expected to employ nearly 1,000 employees. Local and international hires will participate in the standard Infosys training programs to ensure global consistency.

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