Infosys ties up R&D with Cambrigde University, eyes acquisitions in US

Infosys Technologies will partner the University of Cambridge for research in engineering, management and business, architecture and pharmacy, even as the technology bellwether is exploring opportunities for acquisition  in the US.

"This collaboration will create an opportunity for some of the best minds engaged in academia and at Infosys to come together to identify and create relevant solutions in the areas of engineering, business, architecture and pharma," Narayana Murthy, chairman of Infosys Technologies, said.

Both partners will explore opportunities and implement research initiatives, Infosys said in a release.

"We, at Cambridge, are convinced that sustained collaborative research in business, science and technology has a pivotal role to play in the world today, and I am certain that this collaboration will create further exciting opportunities for us both in the years ahead,'' said Professor Alison Richard, the 344th vice-chancellor of the University of Cambridge and thefirst the first woman to this post.

And, amidst the economic downturn, the Indian software major is looking for acquisition opportunities in the US, according to Nandan Nilekani, co-chairman, Infosys.

''Acquisitions will definitely be very accessible in this market from a price point of view,'' Nilekani told The Wall Street Journal in an interview.

Infosys, the report quoted him as saying, is looking for companies that operate in the healthcare and pharmaceuticals sectors, adding that Infosys has $2 billion in cash and no debt.

He also said Infosys stands by the earlier guidance of about 12 per cent revenue growth for the fiscal year ending 31 March 2009, against 35 per cent in the previous fiscal. Nilekani also said that potential customers are holding back both because of the economic crisis and a rise in protectionist sentiment.

Infosys is working with customers on alternative payment arrangements, including some that would link fees to business results, he said.