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Speculation mounts over Infosys bid for Logica

21 May 2010  |  11563 views  |  0 Financial Graph on screen

UK IT services group Logica could be the subject of a £2.9 billion bid from Indian giant Infosys, according to the Daily Mail.

The tabloid says rumours are growing that a 180p a share cash offer is being lined up. According to the FT's Alphaville blog, Capgemini and Atos have also been mentioned as potential bidders.

Speculation about the Infosys interest comes soon after a note from Panmure Gordon tech analyst George O'Connor suggested Indian firms are aware they need to "buy UK footprint" to take advantage of lucrative public sector contracts. Offshore vendors are now "politically unpickable" following the UK election, which saw immigration emerge as a hot topic, says O'Connor.

He highlighted Logica as a likely target because it has "good relationships with the key players in the new Conservative administration".

Why there was no logic in sales - Daily Mail

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