Infosys Technologies (China) Co. Ltd today announced that it has signed a Memorandum of Understanding (MoU) with the Dalian High-tech Zone (DHTZ) Government, to establish a branch company of Infosys Technologies (China) Co. Ltd in DHTZ. This branch company will focus on software development and outsourcing business in the region. Mr. Luan Qingwei, Government leader of Dalian city and other Chinese dignitaries joined Mr. Shaji Farooq, Senior Vice President, Infosys Ltd. and Mr. Rangarajan Vellamore, Chief Executive Officer, Infosys Technologies (China) Co. Ltd. at the inauguration ceremony that was held at Ascendas IT Park in Dalian, China.
As part of this partnership, Infosys Technologies (China) Co. and DHTZ will jointly work towards fostering development and innovation in the Dalian High-tech industry, and establishing Dalian High-tech Park as an innovative world-class software development and outsourcing base. This memorandum marks a milestone in Infosys' cooperation efforts with a provincial government in China, and will encourage collaboration in fields such as services, project cooperation, talent training and software outsourcing.
Speaking at the ceremony, Mr. Rangarajan Vellamore, CEO, Infosys Technologies (China) Co. Ltd. said,“The comprehensive and in-depth cooperation between the Dalian High-tech Zone (DHTZ) Government and Infosys will drive innovation and development, improving the IT Services industry in Dalian. This partnership is a reiteration of Infosys' commitment to invest in China, and will contribute to the overall growth of the company as we continue our efforts to provide high quality service to our clients."
The MoU also provides a framework under which the DHTZ Administrative Committee will help Infosys launch programs with local universities for training and recruitment.
The new facility can currently seat 700 employees and will focus on delivering consulting, technology and BPO services to clients from the U.S., Europe, Japan and neighboring regions.
Infosys China was incorporated in 2004 and reported revenues of USD $ 78.98 million in fiscal year 2011. The company has invested in world class development centers in Shanghai Pudong Zhangjiang Hi-tech Park, Hangzhou Binjiang Hi-tech Park, Beijing China Oversea Plaza, a sales office in Hong Kong and a Global Education Center in Jiaxing Science city. The company is also developing a new campus at Zizhu Science and Technology Park in Shanghai. Infosys China currently employs over 3,300 people.
About Infosys Limited
Many of the world's most successful organizations rely on the 142,000 people of Infosys to deliver measurable business value. Infosys (infosys.com) provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
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Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended September 30, 2010, December 31, 2010 and June 30, 2011.These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.