Infosys Consulting Pte Ltd, Panasonic Corporation (TSE:6752) and Pasona Group Inc. (TSE:2168) entered into a contract to acquire 85% stake in Hitachi Procurement Service Co.,Ltd. from Hitachi, Ltd. (TSE:6501) on December 14, 2018. Under the agreement, Infosys Consulting Pte Ltd, will acquire 81%, while Panasonic Corporation and Pasona Group Inc. will acquire 2% each from Hitachi, Ltd. Infosys Consulting Pte Ltd will pay ¥3.3 billion as consideration subject to closing adjustment. Following the completion, Panasonic Corporation, Pasona Group Inc. and Hitachi, Ltd. will be minority shareholder of Hitachi Procurement Service Co.,Ltd and Hitachi Procurement Service Co.,Ltd. will rename to HIPUS Co., Ltd. Completion is subject to customary closing conditions and scheduled to take place on April 1, 2019.