INDIA’S IT giant, Infosys, said today (28) that it would acquire a 75 per cent stake in Stater N.V. for £109.64 million.
Stater N.V., a wholly owned subsidiary of ABN AMRO Bank N.V., offers mortgage administration services in the Netherlands, Belgium, and Germany.
ABN AMRO will continue to hold the remaining 25 per cent of the shareholding.
Infosys is expected to purchase the stake through its unit Infosys Consulting Pvt Ltd and the transaction is expected to complete by March 2020.
Erwin Dreuning, managing director at Stater said:“…as they are already active in mortgage administration services, Infosys offers specific expertise. With the combined forces of ABN AMRO, Infosys, and Stater ensures we have a solid basis to pursue our plans to for further development of our service offering. Furthermore, it opens up opportunities for us to grow and service other clients.”
The current management team of Stater will continue to steer the company.
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