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Secondary ADR programme

BANGALORE JULY 10. Infosys Technologies today said it plans to despatch the "Invitation to Offer'' with respect to the Sponsored Secondary ADR Programme to the shareholders in India by July 12.

The software bellwether gave the update on the matter, as the audited financial results for the quarter ended June 30, 2003 were released after a board meeting here.

Meanwhile, Infosys said a global banking enterprise has selected it to implement a sourcing strategy for reducing cost, improving efficiency of internal operations, and enabling a quicker response to business needs for its North American operations.

It gave no further details of the deal.

Infosys also said a large, diversified bank based in the U.K. has entered into a long-term strategic relationship with the company for its information technology requirements. "Infosys is also designing and building a research portal for a provider of securities and investment banking functions,'' the firm said. — PTI

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