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Infosys is increasing its exposure to Europe and other regions, besides cutting costs to manage the impact of rupee appreciation against the US doller, the software giant’s chief mentor N.R.Narayana Murthy has said.

Narayana Murthy said that they had been enhancing contribution from Europe and other areas of the world. He said Europe formed 27% of their total revenue when it was 18 percent five years ago. The US, however, remains the most significant market for the country’s second-biggest software exporter. He said that US was the market which belives in innovation in technology, so they did not regret their dependence on that.

Narayana Murthy also said the appreciation in rupee value against the doller was hurting the software companies, including Infosys. The rupee has risen more than 12 percent against the greenback since the beginning of 2007.

Mr.Murthy dismissed fears of any backlash against Indian firms in the US with the presidential elections approaching.

The Rs.30 crore Puducherry based Integra software Solutions (ISS) has acquired US-based firm Elm Street Publishing Services for an undisclosed sum. ISS, which has been in the e-publishing space for over a decade now, is looking to execute high-end project management work. IT is lookin at organic and inorganic growth opportunities in South East Asia and US locations.

Elm street is a $2 million company based out of Hinsdale, a suburb of Chicago. It provides a high-end project management, editorial (including development) composition and design services to college textbook and professional book publishers.

Anuradha Sriram, Joint managing director of ISS said that they had acquired the US company and the process had compled before two weeks. She added that serving the seven of the top tel global publishers, including Springer, Elsevier, Cambridge University Press and Palgrave Macmillian, ISS is looking at a turnover of Rs.40 crore by March 2008.

She said ISS figures among the top five email publishing companies in India. Sha added that it caters to major publishers and typesetters across the globe, including the US, UK, Canada, Netherlands, France, Germany and Australia.

Integra Software Solutions, which has over 950 employees in its fold is looking to achieve a headcount of 2500 in two years. Last year Integra Software’s new state-of-the-art facility on a built up area of 60000 sq.ft was inaugurated at Puducherry. The company is also evaluating special economic zone options in trichy, Puducherry and Cheyyur, near Chennai.

Infinite computer Solutions, a global IT solutions and services provider announced the acquisition of the US-based Vomnet International Company for an undisclosed amount. The US-based company has a development centre in Chennai with 400 people.

The acquisition marks Infinite’s planned shift to telecommunications solution-centric segments as the major focus area.

Mr.Upinder Zutshi, CEO of Infinite computer Solutions said that the company has earmarked $30 million for developing telecommunications and related business. He said that a large part would go for this acquisition and they were also intend to acquire a small company in Europe in the telecom space.

The privately held company would be funding the acquisition with a combination of internal accrual and debt. The investment is expected to help the compny to enlarge its services in telecom, enterprise networks, media and entertainment.