Infosys to buy Simplus for $250 million
Simplus has about 500 employees, offices across North America, Sydney, Melbourne, London, and a large delivery centre in Manila
Infosys has entered into a definitive agreement to acquire Simplus, a Salesforce Platinum Partner that offers services such as cloud consulting, implementation, data integration, change management. The $250-million acquisition is expected to close during the fourth quarter of fiscal 2020, subject to customary closing conditions.
Infosys, in a stock market filing, said, “[The] cost of acquisition or the price at which the shares are acquired; $200 million, including contingent consideration to be paid for the acquisition of shares subject to closing adjustments. In addition, there are employee incentives and retention payments amounting up to $50 million on meeting certain performance conditions over three years.”
Salt Lake City-based Simplus brings to Infosys Salesforce expertise, industry knowledge, solution assets, deep ecosystem relationships and a broad clientele, across a variety of industries including high-tech, financial services, retail, healthcare, life sciences and manufacturing, as per the filing.
Simplus has about 500 employees, offices across North America, Sydney, Melbourne, London, and a large delivery centre in Manila.
Pravin Rao, chief operating officer, Infosys, said, “The acquisition reaffirms our continuous endeavour to strengthen our strategy of scaling our agile digital and cloud-first digital transformation capabilities. This acquisition is key to staying relevant to the digital priorities of our clients and demonstrates our commitment to the Salesforce ecosystem.’’
Source: Read Full Article