Infosys on Friday said it has completed the acquisition of 75% stake in ABN Amro Bank's wholly owned subsidiary Stater.
In March, Bengaluru-based IT services firm announced the acquisition plan for Stater at a financial consideration of 127.5 million euros (about Rs 989 crore). The remaining stake will be held by ABN Amro Bank.
"This partnership strengthens Infosys' position as a leading technology and business process management provider across t .. he mortgage services value chain, improving the experience and operational efficiencies...", Infosys said in a statement Friday.
It added that the deal further enhances its strategy to help clients navigate their next digital transformation journeys.
"The specialised knowledge and experience of Stater in the mortgage services market, combined with the global reach, artificial intelligence, digital transformation and automation capabilities of Infosys, can potentially create differentiated solutions for the market," it said.
Stater, founded in the year 1997, is the leading provider of mortgage services. The company's clientele's includes clients in the Netherlands and Belgium.