India’s second largest IT company Infosys is aggressively expanding business abroad, especially in Europe. In this regard, the company is going to make a new deal. In this deal, Infosys is going to buy Danish life science company BASE Life Science. Infosys itself gave information about this deal to the stock markets on Wednesday.
Deal will be done for Rs 875 crore
Infosys said that this deal is going to be done for about 110 million euros i.e. 875 crore rupees. This deal will not only strengthen Infosys’ position in Europe, but will also enhance its experience in the life science domain. Infosys President Ravi Kumar S said about this deal, ‘This deal will strengthen Infosys’ expertise in the field of life sciences. This will also help the company expand its presence across Europe, including the Nordic region, and expand the potential for digital transformation in cloud-based industry solutions. We are excited to welcome Base Life Science and its leadership team to the Infosys family.
Infosys will have many benefits
Infosys said that this deal can be completed in the second quarter of the financial year 2022-23 (FY23). Acquisition of Base is going to bring many benefits to Infosys. The company said, ‘The team of experts in data science puts BASE at the forefront of modern technological developments and trends. Base has a strong focus on data and AI. The company has the ability to bridge the gap between business logic and technology and integrate them.
BASE’s business is in these countries
BASE Life Science currently has a presence in Denmark, Switzerland, UK, Germany, France, Italy and Spain. About 200 industry experts are currently associated with the company. Following this deal with Infosys, Base Life Sciences will expand its portfolio in segments such as consumer health, animal health, medtech and genomics. Martin Woergaard, CEO of Base Life Sciences, said, “By being the catalyst for Infosys, we will be able to accelerate our expansion internationally and create opportunities for our people to grow.”