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Infosys BPO, the business process outsourcing subsidiary of Infosys, today announced that Royal Philips of the Netherlands has extended its existing seven-year outsourcing agreement with Infosys for an additional five years.
Infosys BPO had originally entered into a seven-year contract with Royal Philips in July 2007 to provide finance and accounting (F&A) and transactional procurement services. It has now been extended till June 2019.
The deal from Royal Philips was around $250 million and along with the deal Infosys had also acquired Philip's finance and accounts business process outsourcing (BPO) centres, which is spread across three countries in the process. Infosys had also taken over about 1,400 Philips professionals working at three different centres in India, Poland and Thailand.
