Founded in 1994, Expert is one of Australia's
leading IT service providers specializing in the design, building and
integration of business solutions. For the year ended June 30, 2003, the
company earned a revenue of US$34.6 million with a net profit of US$5.2
The Infosys Founder, Chairman and Chief Mentor
N.R. Narayana Murthy says, "Ever since we were listed on the Nasdaq in 1999,
and till the recent American Depository Receipt (ADR) issue, we have
maintained that we will use the capital for possible acquisitions. We were
looking for a company whose
values were similar to those of Infosys. We have seen these qualities in
Expert's board of directors will be
reconstituted after the transaction to comprise six directors nominated by
Infosys and two by Expert.
"The merger with Infosys is a perfect fit with
The new entity will allow us to continue delivering high-quality, leading
edge solutions to our existing and new customers with an extraordinary
value proposition based on the global delivery model of Infosys," Gary
Ebeyan, the head of Expert, said. Expert has 330 employees and hopes to "revolutionise"
its work for the Australian market post acquisition.