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Infosys to buy mortgage service unit of ABN AMRO

The mortgage service unit of ABN AMRO bank is going to be bought by Infosys for Rs 1000 crore which happens to be the third such deal for the software exporter after Salil Parekh was roped in as its chief executive officer. These deals are going to expand business of Infosys in key growth regions of southeast Asia and Japan as well as in continental Europe’s banking space. ABN AMRO bank is going to retain 25% in stater that offers mortgage services to approximately 50 European clients.

President of Infosys Mohit Joshi informed in a statement that this transaction is going to strengthen their approach for offering industry focused solutions and digital platforms to clients. These partnerships with large global enterprises are going to provide Infosys with access to clients in key markets aimed to hasten the growth in the business process management business where deals and clients would lead to long term relationships. Infosys is likely to close the transaction by June 2020 and is going to retain the existing management at stater.

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