Sunday, April 26, 2015

IT Consultancy Giant Infosys Acquires Kallidus, An Ecommerce Services Provider

IT consultancy and services provider Infosys has announced that it has acquired e-commerce services provider Kallidus for $120 million. The company plans to integrate the Kallidus portfolio to bring more digital shopping experience solutions to its customers, which includes offering IP-led technology and automation tools. 

The deal is expected to go through by the end of the first quarter of fiscal 2016, German-based Deutsche Bank acted as the sole financial advisor to Infosys' deal. 

Kallidus is the latest and the second major acquisitions Infosys has acquired this year. In February, the company acquired US-based automation technology firm Panaya for $200 million. The San Francisco-based Kallidus offers a cloud-based platform that powers a range of online services for large retail clients. The company develops and host mobile e commerce sites, mobile apps and other digital shopping experiences across mobile, tablet and other emerging channels. 

Infosys CEO Dr. Vishal Sikka said in a prepared remarks: "We see the power of digital experiences in reaching consumers, and in particular retail shoppers in entirely new ways where the physical retail is being augmented and amplified by the digital." 

Headquartered in Bangalore, India, Infosys is a multinational  IT consultancy and outsourcing company. It provides business consulting, information technology, software engineering and outsourcing services. Infosys is the second largest India-based IT services provider and India's sixth largest publicly traded company (with market capitalization of $42.51 billion). 

Image Credit: The Time Business

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