Infosys pays $350m for Swiss consultancy

Indian IT outsourcing giant Infosys said Monday it had agreed to buy Zurich-based consulting firm Lodestone for 330 million Swiss francs ($350 million). The takeover will boost Infosys' presence in continental Europe and emerging markets like Latin America and Asia Pacific, the Bangalore-based group said in a statement. Lodestone will add more than 200 clients across industries including manufacturing and the car sector to Infosys' clientbase of 700 companies, it added. Infosys has been struggling to expand its business because of slowing revenues from its main outsourcing markets of the United States and Europe.