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).
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