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India's Infosys pays US$350 million for Switzerland-based consultancy

MUMBAI -- Indian IT outsourcing giant Infosys said Monday it had agreed to buy Zurich-based consulting firm Lodestone for US$350 million as part of its strategy to move into higher value services.

Lodestone will add more than 850 staff and 200 clients across industries including manufacturing and the car sector to Infosys' clientbase of 700 companies, the Bangalore-based firm said in a statement.

The takeover will also help increase Infosys' presence outside its main market of the United States, giving it a larger footprint in continental Europe and emerging markets such as Latin America and Asia Pacific.

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