Infosys completes acquisition of Simplus

IT major Infosys on Friday said it has completed acquisition of Simplus, one of the fastest growing Salesforce Platinum Partners in the US and Australia.

In February, Infosys had announced that it will acquire Simplus in an up to USD 250 million deal.

"Infosys ...has completed the acquisition of Simplus...Through this acquisition, coupled with the acquisition of Fluido announced in September 2018, Infosys further elevates its position as an end-to-end Salesforce enterprise cloud solutions and services provider, offering clients unparalleled capabilities for cloud-first digital transformation," Infosys said in a regulatory filing on Friday.

It added that the acquisition brings globally recognised 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.

In its announcement in February, Infosys had said the cost of acquisition is "USD 200 million including contingent consideration to be paid for the acquisition of shares subject to closing adjustments".

In addition, there are employee incentives and retention payments amounting up to USD 50 million on meeting certain performance conditions over three years, it had noted.

Simplus was majority-owned by institutional investors, founders and key employees, with Salesforce Ventures having a minority stake. Its revenue stood at USD 67.1 million for the fiscal year ending January 31, 2020.

Simplus has offices across North America, Sydney, Melbourne, London, and a large delivery centre in Manila.