Infosys Technologies Ltd on Tuesday announced the setting up of its first Latin American subsidiary with a development centre at Monterrey in Mexico.
According a statement from the IT bellwether, the subsidiary will offer business consulting and software services to clients across verticals, including banking, financial, retail, consumer packaged goods, resource, energy and utilities.
"We are making an upfront investment of $5-10 million in the subsidiary to set up the near-shore facility and an office, with a capacity to house about 250 people, majority of whom will be hired locally," a top company official told IANS on phone.
The Monterrey facility will also provide business process outsourcing (BPO) services, infrastructure management and packaged solutions implementation.
Going forward, the company plans to expand the Latin operations to ramp up its headcount to about 1,000 people over the next 24-36 months.
"We have decided to set shop in Mexico to take advantage of the language skills in the region, its proximity to Canada, the US and Europe. Many of our clients have operations in Latin America, which is emerging as a strong market for our service offerings," Infosys CEO S Gopalakrishnan said.
With dedicated resources to service its clients in the Americas and Europe, the subsidiary will provide solutions in required time zones with access to processes and systems.
"The new location will reinforce our global delivery model capabilities and leverage with our other development centres at Brno in Czech Republic and BPO facility in India," Gopalakrishnan said.
Mohit Joshi, who has been with the company's banking and capital markets division, will head the subsidiary. Local and international hires will participate in the training programme to ensure global consistency.
"Our clients are exploring opportunities to mitigate risk, while expanding operations into the burgeoning market. The facility will help us establish our services in the central time zone, which allows us to provide better support to clients located across multiple geographies," Gopalakrishnan added.