Infosys' holding in BPO arm goes up to 99%

One of the world's largest media and entertainment conglomerates signs up Infosys BPO to provide a range of services across the media process outsourcing spectrum.

Infosys Technologies Ltd said on Friday, its holding in Infosys BPO reached 98.92 per cent as of March 31, 2007.

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During the January-March quarter, Infosys acquired 2,11,909 shares of Infosys BPO and entered into a forward agreement to acquire 3,60,417 shares of Infosys BPO by February next year from various employees of Infosys BPO.

Infosys said in a statement that it also paid Rs 58 crore during the quarter to acquire stock options and issued 1,51,933 options of Infosys as a swap to the existing Infosys BPO options held by various employees.

"Consequent to this, Infosys' holding in Infosys BPO reached 98.92 per cent as of March 31, 2007," it said.

The software major said Infosys BPO continued its growth momentum during the quarter.

One of the world's largest media and entertainment conglomerates has signed up Infosys BPO to provide a range of services across the media process outsourcing spectrum, the NASDAQ-listed firm said.