Infosys to buy Lodestone for Rs.1,932 cr
Lodestone advises companies on strategy and process optimisation.
New Delhi: Infosys Technologies today said it will acquire global management consultancy firm Lodestone Holding for an aggregate enterprise value of 330 million Swiss Francs (about Rs.1,932 crore) in cash.
The transaction is expected to close by the end of October 2012, subject to customary closing conditions. Upon completion, the acquisition of Lodestone will strengthen Infosys Consulting and Systems Integration capabilities, by bringing more than 850 employees, including 750 experienced SAP consultants to the company, Infosys said in a statement.
The acquisition will also add more than 200 clients across industries, including manufacturing, automotive and life sciences, to the Infosys pool of over 700 clients.
“A key plank of our Infosys 3.0 strategy is to expand our C&SI. This acquisition fits perfectly into that strategy. Lodestone and Infosys share a culture of unwavering focus on
nurturing and maintaining client trust,” Infosys CEO and managing director SD Shibulal said.
Headquartered in Zurich, Lodestone advises international companies on strategy and process optimisation, and provides business transformation solutions enabled by SAP’s enterprise solutions.
Post-acquisition, the combined consulting practice focussing on SAP programs will deliver revenues of more than $1 billion, the statement added.
Infosys Consulting & Systems Integration business, today has more than 30,000 consultants across 10 industry verticals and accounts for 31 per cent of the company’s revenue.
Category: Business, Business News
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