Infosys jumps on acquisition of GuideVision

Infosys spurted 4.14% to Rs 984.50 after the IT major announced a definitive agreement to acquire GuideVision, one of the largest ServiceNow Elite Partners in Europe.

GuideVision is an award winning enterprise service management consultancy specialised in offering strategic advisory, consulting, implementations, training and support on the ServiceNow platform. Infosys said the acquisition to augment its Cobalt portfolio of cloud services and further strengthen nearshore delivery presence in Europe.

Infosys will be acquiring 100% equity share capital holding in GuideVision for a cost of acquisition of 30 million Euro, including earn-out and bonuses. The acquisition is expected to close during the thirdquarter of FY21, subject to customary closing conditions. The announcement was made during trading hours today, 14 September 2020.

Infosys' consolidated net profit fell 1.45% to Rs 4,272 crore on a 1.71% rise in net sales to Rs 23,665 crore in Q1 June 2020 over Q4 March 2020.

Infosys is a global leader in next-generation digital services and consulting.

Infy hit a record high of Rs 989.45 today. It has soared 92.62% from its 52-week low of Rs 511.10 hit on 19 March 2020.

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