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Tuesday, November 24, 2009

Infosys eyes Ciber Novasoft

Infosys Technologies Ltd. is reportedly in talks to acquire European IT consulting company Ciber Novasoft in a deal valued at around US$200-300mn. The Bangalore-based IT major is not the only one interested in Ciber Novasoft. Hence, a bidding war is possible and it may take some time before a final deal is announced.

Infosys is also believed to have short-listed three other companies for acquisition. The company declined to comment on the media reports.

Ciber Novasoft has revenues of around US$420mn, which is down substantially from last year.

Standard Chartered us advising Infosys on the deal while Ciber Novasoft is being advised by Citi and JP Morgan Chase, according to reports

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
11:30 Public Sector Net Borrowing 1 £17.686B £20.052B Revised from £20.155B
11:30 Retail Sales (MoM) 3 -2.7% -0.5% 1.3% Revised from 1.2%
11:30 Retail Sales (YoY) 2 -1.3% 1.7% 5.0%
11:30 Retail Sales ex-Fuel (YoY) 2 -1.3% 1.8% 5.2% Revised from 5.3%
11:30 Retail Sales ex-Fuel (MoM) 2 -2.8% -0.5% 1.4% Revised from 1.3%
18:00 Philadelphia Fed Manufacturing Survey 2 -1 -4
18:00 Industrial Product Price (MoM) 1 0.0% -0.8%
18:00 Raw Material Price Index 1 -0.8% -3.0%
18:00 New Housing Price Index (MoM) 1 -0.2% -0.4%
18:00 New Housing Price Index (YoY) 1 -0.6%
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