Tech giant Infosys via its wholly owned subsidiary Infosys Consulting is in advanced talks to buy 75 per cent stake in Stater NV, a wholly owned subsidiary of ABN Amro Bank NV which furnishes pure-play, end-to-end mortgage administration services in the Netherlands, Belgium and Germany.
The transaction will be an all-cash deal and is expected to finalise in the first quarter of the fiscal year 2020. The deal is expected to be of figure €127.50 million ($143.53 million), said Infosys.
“Stater also brings deep European mortgage expertise and a robust digital platform to drive superior customer experience. Infosys will drive the digital transformation road map of Stater with accelerators such as dynamic workflow, API layers, RPA and analytics. The current management team of Stater will continue to steer the company,” said Infosys.
“It brings together our complementary capabilities to enhance the value we offer to our financial services clients. We are excited to welcome Stater’s talented team to the Infosys family, thereby enhancing our presence in Europe,” said Mohit Joshi, President, Infosys.