Infosys, a global leader in consulting and technology, today announced a definitive agreement to acquire Lodestone Holding AG, a leading global management consultancy firm for an aggregate enterprise value of $349 Million in cash. Headquartered in Zurich, Lodestone advises international companies on strategy and process optimization, and provides business transformation solutions enabled by SAP. The combination of the breadth of capabilities delivered by Infosys and Lodestone’s deep experience of driving transformational change, is expected to provide clients across the two companies, a world-class team to accelerate transformation and innovation led growth.
Upon completion, the acquisition of Lodestone will strengthen Infosys Consulting and Systems Integration (C&SI) 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.
Infosys Consulting & Systems Integration business, today, has more than 30,000 consultants across 10 industry verticals and accounts for 31% of the company’s revenue. The Lodestone acquisition will significantly enhance its global presence, particularly in continental Europe and emerging markets like Latin America and Asia Pacific. Further, Lodestone’s clients will get ready access to the scale and global reach of Infosys, in addition to a broad spectrum of capabilities across consulting, systems integration and outsourcing.
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. Lodestone and Infosys share a culture of unwavering focus on nurturing and maintaining client trust. I look forward to welcoming Ronald, his experienced leadership team and Lodestone’s team of top–notch consultants to Infosys.”
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. This will enhance the momentum that Lodestone is already witnessing in the marketplace. A common passion for delivering client value will strengthen this partnership even further.”
The transaction is currently expected to close by the end of October 2012, subject to customary closing conditions.
Linklaters LLP is acting as legal advisor to Infosys. UBS AG is acting as financial advisor and Baker & McKenzie is acting as legal advisor to Lodestone.
You are reading this article on careermitra.com, stay tuned for career & education news! For regular updates like us on Facebook.