Infosys spurts on acquisition of US data analytics firm

Infosys jumped 4.63% to Rs 1115.95 after the company announced the acquisition of commerce & analytics firm Blue Acorn iCi for a consideration of up to $125 million.

In BSE filing made during market hours today, the IT major announced the signing of definitive agreement to acquire Blue Acorn iCi, Adobe Platinum partner in the US, and a leader in digital customer experience, commerce and analytics.

The acquisition is expected to close during the third quarter of fiscal 2021, subject to customary closing conditions. The acquisition is being done for a cash consideration of up to $125 million including management incentives and bonuses.

The move further strengthens Infosys' end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey.

Together with Infosys' earlier acquisition of WONGDOODY that offers creative and marketing services, BlueAcorn iCi brings complimentary capabilities to help global chief marketing officer (CMOs) and businesses thrive in a digital commerce world. This acquisition further deepens Infosys' capabilities in the Adobe, Magento, Salesforce Commerce and Shopify ecosystems.

Ravi Kumar S, president, Infosys, said, "We are focused on partnering with global brands and CMOs to help them navigate their digital experience and commerce challenges. The Blue Acorn iCi acquisition is another important milestone in Infosys' journey to build capabilities relevant to the digital priorities of our clients and reaffirms our commitment to the Adobe ecosystem. We are excited to welcome Blue Acorn iCi and its leadership team into the Infosys family."

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

The IT major will consider Q2 earnings on 14 October 2020. Infy's consolidated net profit fell 2% to Rs 4,233 crore on a 1.7% rise in revenues to Rs 23,665 crore in Q1 June 2020 over Q4 March 2020.

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