Infosys BPO Limited, the business processing outsourcing subsidiary of Infosys Technologies Limited (INFY), announced the acquisition all of the outstanding interests of McCamish Systems LLC, a 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 $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.
Founded in 1985, McCamish Systems provides innovative solutions to the insurance and financial services industries leveraging their proprietary VPAS™, PMACS and Deferral+™ platforms. Consistently rated among the top platforms in the industry, VPAS™ supports both traditional and non-traditional life insurance and annuities. McCamish Systems also offers integrated sales and administration support solutions that are 409A-compliant to the retirement and financial services industries.
The combination is expected to enable McCamish 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.
Infosys BPO Limited was set up in April 2002. Its parent company Infosys Technologies Limited defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. The company offers a transparent business partner, world-class processes, speed of execution and the power to stretch clients’ IT budgets by leveraging the Global Delivery Model that Infosys pioneered. Major competitors include Satyam Computer Services Ltd (SAY) and International Business Machines Corporation (IBM).
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