Struggling with outsourcing, Infosys announced it's completed the acquisition of Lodestone Holding AG, a management consultancy based in Switzerland.
The acquisition is in accordance with the terms set out in the agreement announced on Sept. 10. Infosys aims to strengthen its management consulting capabilities by acquiring Lodestone as it would add more than 750 experienced consultants and 200 clients in wide-ranging areas such as manufacturing and the automotive and life sciences industries to the company's business profile.
"Our clients are looking for help driving the transformations that will allow them to be successful in a challenging and dynamic market," said S.D. Shibulal, CEO & Managing Director, Infosys. "Combining our global scale with Lodestone's consulting heritage creates a world-class team that can bring clients a broad spectrum of capabilities across consulting, systems integration, and outsourcing."
Infosys hopes an inflow of a billion dollars from its SAP practice after the $350 million deal to acquire the Zurich-based SAP implementation and management consultancy Lodestone.
"A Key plank of our Infosys 3.0 strategy is to expand out consulting and systems integration business," Shibulal said in a statement filed with the stock exchanges. "This acquisition fits perfectly into that strategy. Lodestone and Infosys share a culture of unwavering focus on nurturing and maintaining client trust."
