IT major Infosys on Thursday said that it will acquire Blue Acorn iCi, a US-based data analytics company for up to $125 million.
In a regulatory filing, Infosys said that the move further strengthens its end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey.
Infosys Limited, is an Indian multinational corporation that provides business consulting, information technology and outsourcing services.
It was established in 1981 and as of now having a base of 239k employees from a capital of US $250.
Also it is the second-largest Indian IT company after Tata Consultancy Services.
The credit rating of the company is A− (rating by Standard & Poor’s).
About Blue Acorn ici
Blue Acorn iCi is a leading independent digital customer experience company that solves problems and delivers results.
Blue Acorn iCi group is owned by Beringer Capital, company management and previous owners.
The company is headquartered in Charleston and has presence across the U.S. Its revenue in 2019 was $43.6 million.
With services that include strategy, analytics, design, and engineering, Blue Acorn iCi works with brands across industries from media, consumer goods and retail, financial Services, manufacturing and technology.
How much Infosys will acquire?
Infosys will acquire 100% of BlueAcorn iCi’s equity share capital for a cash consideration of $125 million, including management incentives and bonuses.
Undertaker of Acquisition
The acquisition is being undertaken by Infosys Nova Holdings which is a wholly-owned subsidiary of Infosys.
CG Petsky Prunier, part of Canaccord Genuity, advised Blue Acorn ICI on the transaction.
Completion of Acquisition
The acquisition is expected to close during the third quarter of fiscal 2021, subject to customary closing conditions.
Comment from President of Infosys
“We are focused on partnering with global brands and CMOs to help them navigate their digital experience and commerce challenges.
The Blue Acorn iCi acquisition is another important milestone in Infosys’ journey to build capabilities relevant to the digital priorities of our clients and reaffirms our commitment to the Adobe ecosystem.
We are excited to welcome Blue Acorn iCi and its leadership team into the Infosys family.”
Comment from Co-CEO of Blue Acorn ici
By becoming a part of the Infosys family, Blue Acorn iCi will be able to better serve clients and their customers as it elevates its scale, technical acumen, global reach, creative capabilities and consumer insight expertise.
“Together, we will be able to offer unrivaled services and insights to help companies become the new leaders of digital experience & commerce.
Stock Market Impact
Infosys shares gained as much as 4.45% to reach an all-time high of Rs 1,114. The stock is up for the fifth straight day.