Comments
Infosys has entered into a definitive agreement to acquire Simplus, a Salesforce Platinum Partner in the USA and Australia, for about $200 million in cash, to accelerate its enterprise cloud capabilities.
In addition, there are employee incentives and retention payments amounting of upto $50 million on meeting certain performance conditions over three years.
The Bengaluru-based IT major would conduct the acquisition through its wholly-owned subsidiary Infosys Nova Holdings. The deal is expected to close during the fourth quarter of FY 2020, Infosys said in a regulatory filing last night.
This acquisition, coupled with the acquisition of Fluido announced in September 2018, further elevates Infosys’ position as an end-to-end Salesforce enterprise cloud solutions and services provider, offering clients capabilities for cloud-first digital transformation.
“This acquisition is key to staying relevant to the digital priorities of our clients and demonstrates our commitment to the Salesforce ecosystem. The strategic combination of scalable and agile global delivery capabilities of Simplus complements our effort to help global enterprises to transform their businesses,” Pravin Rao, Chief Operating Officer at Infosys said.
Simplus will bring in Salesforce expertise, industry knowledge, solution assets, deep ecosystem relationships and a broad clientele, across a variety of industries including high-tech, financial services, retail, healthcare, life sciences and manufacturing.
It has offices across North America, Sydney, Melbourne, London, and a large delivery centre in Manila.
Ryan Westwood, CEO & Co-Founder, Simplus said: “We have viewed this partnership from a culture-first lens from the beginning, and we believe that the alignment of our company values, and the preservation of our company DNA will allow us to accelerate growth and together become the strongest and most respected partner in the Salesforce ecosystem”.
At 10.54 am, Infosys shares were down 0.05 per cent to ₹772.85 a piece , on BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.