IT company Infosys is to acquire oddity – a Germany-based digital marketing, experience and commerce agency – in an all-cash deal for $50 million (around Rs 380 crore), the company announced on Tuesday. society.
As part of Infosys’ digital experience and design offering, oddity will become part of Wongdoody and join its network of studios in Seattle, Los Angeles, New York, Providence, Houston and London, and design centers in five cities in India, Infosys said. in a report.
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The company had acquired US firm Wongdoody, which offers creative and marketing services, in a $75 million deal in 2018.
“To complete the transaction, Infosys will also acquire German company Kristall 247 for 3,000 euros (approximately Rs 2.5 lakh),” the Indian IT company said.
Infosys said the cost to acquire the oddity is “up to 50 million euros, including earn-outs, management incentives and bonuses.”
With more than 300 digital experts, Oddity is one of the largest independent digital agencies, according to the release.
“With oddity’s digital commerce and marketing insights along with its metaverse-ready setup, it’s the perfect complement to Infosys’ prowess in technology transformation,” said Infosys President Ravi Kumar. S.
Oddity has a comprehensive service portfolio including digital-first brand management and communication, in-house production including virtual and augmented reality, experience design and e-commerce services across Europe and China, according to the release.
The acquisition of oddity is expected to be completed in the first quarter of FY23.