Infosys to acquire Swiss-based Loadstone; shares up

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Infosys to acquire Swiss-based Loadstone; shares up
Infosys: Quotes, News
BSE 1017.35BSE Quote11.65 (1.15%)
NSE 1017.20NSE Quote9.9 (0.97%)
Infosys, a global leader in consulting and technology today announced that it will acquire Lodestone Holding AG, a leading global management consultancy firm for an aggregate enterprise value of $350 million.

Once the acquisition is complete it will strengthen Infosys capabilities, by bringing more than 850 employees, including 750 experienced SAP consultants to the company.

Lodestone will add more than 200 clients across industries including Manufacturing, Automotive and Life Sciences, to the Infosys pool of over 700 clients.

Post-acquisition, the combined Consulting practice focusing on SAP programs will deliver revenues of more than $1 Billion, firmly establishing Infosys amongst the global leaders in SAP consulting.

The combination of these two companies will make a world-class team to accelerate transformation and innovation led growth.

Commenting on the transaction Mr. S. D. Shibulal, CEO & Managing Director, Infosys said, "A key plank of our Infosys 3.0 strategy is to expand our Consulting & Systems Integration business. This acquisition fits perfectly into that strategy".

Mr. Ronald Hafner, Chairman and CEO, Lodestone added, "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".

The transaction is currently expected to close by the end of October 2012, subject to customary closing conditions.

The shares of the Infosys  was seen trading higher by 0.44% at Rs 2506 on BSE at 10.00 am IST. It touched intra-day high of Rs 2527.

Lodestone Management Consultants AG, is a global consulting firm advising international companies on strategy and process optimization as well as IT transformation, headquartered in Zurich.

Read more about: infosys
Story first published: Monday, September 10, 2012, 10:09 [IST]
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