Infosys BPO has signed an agreement to acquire Portland Group, a provider of strategic sourcing and category management services based in Melbourne, for 37 million Australian dollars (Rs 194 crore). Infosys will acquire the entire share capital of the company.

This is its second acquisition in Australia, the first being Expert Information Services, which it got in 2003 for $23 mn. The all-cash deal is expected to be completed by early January. Portland Group provides strategic sourcing and category management services and employs 113 professionals.

The acquisition is expected to be completed by early January 2012, subject to certain conditions.

Swaminathan D, CEO of Infosys BPO, said the company was delighted to have an outstanding team of domain specialists in Portland Group join Infosys. "This acquisition would significantly deepen our capabilities and domain expertise in our sourcing and procurement practice. Further, in a dynamic marketplace such as Australasia, this will strengthen the top-end of our service offering in the strategic sourcing and category management functions. This will also enhance the competitiveness, spread of offerings and global reach for our clients," he said.