Infosys' acquisition of Switzerland-based Lodestone Holding would provide the software firm respite from investors who have, for long, demanded the company tweak its strategy of walking away from deals that might dilute earnings. Investors have also demanded the company's unutilised cash balances be used to revive growth.
The amount considered for the acquisition is 1.3 times the revenues Loadstone is expected to garner in 2012
The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc.
Infosys, the country's second largest IT services firm, is open to 'bigger scale' mergers and acquisitions but with a caveat, it is not interested in "yesterdays" companies.
The company expects around $40 million annualised revenue from the acquisition but declines to share financial details of the deal.
They expressed disappointment over the firm's performance.
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