Infosys to buy Lodestone for 330m Swiss francs
The deal will enhance Infosys's global presence.
The Indian technology services provider Infosys has signed an agreement to acquire the Swiss management consultancy firm Lodestone Holding for a cash consideration of 330m Swiss francs. The transaction is expected to close by the end of October 2012.
The acquisition is expected to enhance Infosys's global presence, particularly in Europe and emerging markets such as Latin America and the Asia-Pacific region, by adding more than 200 clients across the manufacturing, automotive and life sciences industries to its pool of over 700 clients.
The deal will also strengthen Infosys's consulting and systems integration (CSI) capabilities by bringing in more than 850 employees, including 750 experienced SAP consultants. Currently, Infosys's CSI business has more than 30,000 consultants across ten industry verticals.
S D Shibulal, CEO and managing director of Infosys, said:
A key plank of our Infosys 3.0 strategy is to expand our consulting and systems integration business. This acquisition fits perfectly into that strategy. Lodestone and Infosys share a culture of unwavering focus on nurturing and maintaining client trust. I look forward to welcoming Ronald, his experienced leadership team and Lodestone's team of top-notch consultants to Infosys.
Ronald Hafner, chairman and CEO of Lodestone, said:
Our clients entrust us with their most important business and technology transformation initiatives. We are eager to leverage the widely acknowledged global reach of Infosys and its leadership in the consulting and technology arena to deliver greater value to our clients. This will enhance the momentum that Lodestone is already witnessing in the marketplace. A common passion for delivering client value will strengthen this partnership even further.
Linklaters and Baker & McKenzieare are acting as legal advisers for Infosys and Lodestone.