Infosys to buy Kallidus Inc for $120 mn

Cash-rich information technology bellwether Infosys Ltd said on Friday that it has entered into definitive agreement to acquire Kallidus Inc. (d.b.a Skava) and its affiliate for $120 million.

Announcing the fourth quarter and annual results for 2014-15, the company said it has signed an agreement to acquire Kallidus Inc. (d.b.a Skava) and its affiliate, a leading provider of digital experience solutions, including mobile commerce and in-store shopping experiences to large retail clients.

This acquisition is an all-cash deal for a total consideration of $120 million including retention bonus and a deferred component.

"Skava delivers a cloud hosted platform for mobile websites, apps and other digital shopping experiences across mobile, tablet, desktop, in-store, and all emerging channels to large retail clients worldwide," Infosys said.

"The platform enables retailers to provide a mobile specific experience to their customers through an agile and flexible environment, enabling personalisation and delivering customer analytics across multiple channels," the company said.

Infosys also said it has entered into an agreement for an early state investment of $2 million in Airviz to acquire minority stake.

Airviz is a personal air quality monitoring start-up and spinout from Carnegie Mellon University.

Infosys recently completed the acquisition of Panaya, a provider of automation technology.

According to the company the liquid assets stood at Rs.32,585 crore as on March 31, 2015 as compared to Rs.34,873 crore as on December 31, 2014 and Rs.30,251 crore as on March 31, 2014.