Software major Infosys Technologies Ltd has signed a deal to acquire Australia-based Expert Information Services for $22.9 million.

Expert Information, an IT services provider, achieved total revenues of $34.6 million for the financial year ended June 30, 2003, with a net profit of $5.2 million.

Infosys plans to complete the acquisition in January, 2004.

The transaction would be completed in January 2004, the Infosys statement said, adding, consequent to the acquisition, the acquired company will be renamed Infosys Technologies (Australia) Pty Ltd.

Expert Information is one of Australia's leading IT service providers, specialising in the designing, building and integrating business solutions and products, for clients, which include medium and large enterprises spanning across various industry verticals such as telecom, financial services, retail and government sector.

"We are excited about this transaction," K Dinesh, member of the board, Infosys Technologies Ltd, and chairman-designate of the acquired company, was quoted as saying.

"Australia is a very important market for us and this transaction reaffirms our commitment to this market by significantly enhancing our local presence. Our Global Delivery Model combined with the service capabilities of Expert will enable us to be a premier player in the growing Australian market," he said.

Gary Ebeyan, chief executive officer, Expert, said the new entity would allow them to continue to deliver high-quality, leading edge solutions to their existing and new customers with an extraordinary value proposition based on the Global Delivery Model of Infosys.