Infosys to acquire WongDoody for up to $75 million
The WongDoody acquisition, Infosys said, would strengthen the company’s creative, branding and customer experience capabilities
Bengaluru: IT services firm Infosys Ltd on Friday said it will acquire WongDoody Holding Co., a US-based digital creative and consumer insights agency, for a total consideration of up to $75 million.
“On 13 April 2018, the company entered into a definitive agreement to acquire WongDoody...for a total consideration of up to $75 million including contingent consideration and retention payouts, subject to regulatory approvals and fulfilment of closing conditions,” Infosys said in a regulatory filing.
The move, Infosys said, would strengthen the company’s creative, branding and customer experience capabilities.
The WongDoody acquisition is expected to close during the first quarter of FY19, subject to customary closing conditions.
Previously, Infosys had announced the acquisition of Brilliant Basics, a London-based digital design and customer experience innovator that works with clients across Europe and Middle East.
“With Infosys Digital Studios spanning the globe—from Bengaluru and Pune to New York, London, and Melbourne—the addition of WongDoody strengthens Infosys’ ability to fulfil the needs of global clients for comprehensive digital transformation solutions required to meet customer demand for next-generation, enhanced customer experiences,” Infosys said.
Founded in 1993, WongDoody is headquartered in Seattle and has an office in Los Angeles. Its has clients across industries like telecommunications, consumer electronics, healthcare and consumer packaged goods.
“We are focused on partnering with global brands and CMOs to help them on their digital transformation journeys, by developing a digital experience services ecosystem with services ranging from strategy, design and user experience, to creative and digital marketing across the customer experience value chain,” said Infosys president and deputy COO Ravi Kumar S.
WongDoody’s expertise in driving innovative creative solutions is already yielding significant results in Infosys’ initial collaborations with clients, and this acquisition will further enhance the company’s capabilities in this space, he added.
On Friday, Infosys shares rose 0.58%, or Rs6.75, to Rs1,169.00 on the BSE while the benchmark Sensex gained 0.27%, or 91.52 points, to end the day at 34,192.65.
- IndusInd Bank’s Q2 results show a peek into the IL&FS booby trap
- So which liquid, money market funds did investors flee from in September?
- Dr Reddy’s: API unit sale should lower costs, may not be a windfall
- Demerger in final leg, CESC stock yet to reflect value unlocking benefits
- Banks turned wary of NBFCs months before IL&FS defaults