The Daily Star, Page 3, (July 5, 2006)

Indian Infosys launches regional plan of expansion from its Egyptian base

    Infosys Technologies of India has launched a plan of action targeting the banking industry in the Middle East and African regions in cooperation with its Egyptian agent, business Applications Development Company (BSD)

    Infosys has sealed an agreement with BSD to set up a regional office at the Egyptian company’s headquarters in Cairo, which would provide technical support services to clients in the Middle East, particularly in Saudi Arabia, the United Arab Emirates, Bahrain and Egypt. Santa Rao, head of global sales at Indian Infosys Company, told Noozz on Monday that partnership with BSD was intended to enhance his compnay's presence in the banking sector, after winning a 4.32 million deal to supply core banking solutions to the Bank of Alexandria in May 2005.

    Hisham Sanad, chief executive of BSD, pointed out that his company would expand its operation in the regional markets in line with the plan of action launched by Infosys.

    "Our company has reached agreements with banks in Sudan and Saudi Arabia and would open up a representation office in Saudi Arabia next month, "he added. Technology companies have joined in a fierce competition over the core banking business solutions market in Egypt and in the region. Indian I-Flex and Infosys companies control the largest share of core banking solutions market in Egypt. I-Flex had sealed two $5 million agreements to provide core banking solutions to Egyptian Baque Du Caire and Banque Misr in 2004. – NOOZZ.

*******