Friday, January 23, 2009

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IBM, Infosys in tug-of-war for Fidelity’s IT captive unit

Infosys Technologies and IBM are locked in a battle to acquire the Indian IT captive unit of the world’s largest mutual fund company, Fidelity Investments. The deal may involve $150-180 mn upfront transaction in return for an assured multi-year outsourcing contract, at least two people involved with the matter said.

Fidelity outsources around $50 mn worth of projects to Infosys every year. For IBM, Fidelity is an over $200-million customer.


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