Infosys concludes acquisition of US based Wongdoody at $75 million

The country's second largest IT services firm Infosys on Wednesday said it has completed the acquisition of US-based WONGDOODY.

In April, Infosys had said it will acquire WongDoody Holding Company, a US-based digital creative and consumer insights agency, for a total consideration of up to $75 million.

"Infosys has concluded the acquisition for a consideration up to USD 75,040,000 including conditional deferred consideration and employee retention amounts," Infosys said in a BSE filing today.

It added that the acquisition -- which is in accordance with the terms set out in the agreement announced by the company in April -- brings globally recognised creative talent and deep marketing and brand engagement expertise to Infosys.

"Through this acquisition, Infosys enhances its digital experience services ecosystem with services ranging from strategy, design and user experience, to creative and digital marketing across the customer experience value chain," it said.

It added the transaction will also help Infosys further expand its worldwide network of digital studios.

Founded in 1993, WONGDOODY is headquartered in Seattle and has an office in Los Angeles. Its has clients across industries like telecommunications, consumer electronics, healthcare and consumer packaged goods.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel