Strengthens Infosys management consulting capabilities globally
Expands presence in continental Europe adding more than 750 experienced
consultants and 200 clients
Deepens expertise across Manufacturing, Automotive and Life Sciences
Infosys Consulting practice focusing on SAP programs to become a $1
ZURICH and BANGALORE, India, Sept. 10, 2012 /CNW/ - Infosys, a global leader in consulting and technology, today announced a
definitive agreement to acquire Lodestone Holding AG, a leading global
management consultancy firm for an aggregate enterprise value of CHF
330 Million in cash. Headquartered in Zurich, Lodestone advises
international companies on strategy and process optimization, and
provides business transformation solutions enabled by SAP. The
combination of the breadth of capabilities delivered by Infosys and
Lodestone's deep experience of driving transformational change, is
expected to provide clients across the two companies, a world-class
team to accelerate transformation and innovation led growth.
Upon completion, the acquisition of Lodestone will strengthen Infosys Consulting and Systems Integration (C&SI) capabilities, by bringing more than 850 employees, including 750
experienced SAP consultants to the company. Lodestone will add more
than 200 clients across industries including Manufacturing, Automotive
and Life Sciences, to the Infosys pool of over 700 clients.
Post-acquisition, the combined Consulting practice focusing on SAP
programs will deliver revenues of more than $1 Billion, firmly
establishing Infosys amongst the global leaders in SAP consulting.
Infosys Consulting & Systems Integration business, today, has more than
30,000 consultants across 10 industry verticals and accounts for 31% of
the company's revenue. The Lodestone acquisition will significantly
enhance its global presence, particularly in continental Europe and
emerging markets like Latin America and Asia Pacific. Further,
Lodestone's clients will get ready access to the scale and global reach
of Infosys, in addition to a broad spectrum of capabilities across
consulting, systems integration and outsourcing.
Commenting on the transaction Mr. S. D. Shibulal, CEO & Managing Director, Infosys said, "A key plank of our Infosys 3.0 strategy is to expand our
Consulting & Systems Integration business. This acquisition fits
perfectly into that strategy. Lodestone and Infosys share a culture of
unwavering focus on nurturing and maintaining client trust. I look
forward to welcoming Ronald, his experienced leadership team and
Lodestone's team of top-notch consultants to Infosys."
Mr. Ronald Hafner, Chairman and CEO, Lodestone added, "Our clients entrust us with their most important
business and technology transformation initiatives. We are eager to
leverage the widely acknowledged global reach of Infosys and its
leadership in the consulting and technology arena to deliver greater
value to our clients. This will enhance the momentum that Lodestone is
already witnessing in the marketplace. A common passion for delivering
client value will strengthen this partnership even further."
The transaction is currently expected to close by the end of October
2012, subject to customary closing conditions.
Linklaters LLP is acting as legal advisor to Infosys. UBS AG is acting
as financial advisor and Baker & McKenzie is acting as legal advisor to
Infosys partners with global enterprises to drive their innovation-led
growth. That's why Forbes ranked Infosys 19 among the top 100 most
innovative companies. As a leading provider of next-generation
consulting, technology and outsourcing solutions, Infosys helps clients
in more than 30 countries realize their goals. Visit http://www.infosys.com and see how Infosys (NASDAQ: INFY), with its 150,000+ people, is
Building Tomorrow's Enterprise® today.
Lodestone Holding AG, headquartered in Zurich, is a global consulting
firm advising international companies on strategy and process
optimization as well as IT transformation. With a value-integration
approach, Lodestone pursues a value-adding combination of management
and IT consulting. Founded in 2005, the firm has grown to more than 850
employees (thereof around 750 consultants) in 17 countries on five
continents. Lodestone's advisory services are primarily geared to the
life science, chemical and financial services industries as well as the
investment, automotive and consumer goods sectors.
For further information, please visit http://www.lodestonemc.com
Legal Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act and Section 21E of the
Securities Exchange Act of 1934, as amended, which statements include
those regarding the expected closing date of the proposed acquisition,
Infosys' expectations regarding the business, products and prospects of
the combined company, and Infosys' expectations regarding the impact of
the proposed acquisition. The statements contained in this press
release that are not purely historical are forward-looking statements
and include, without limitation, statements regarding our expectations,
beliefs, intentions or strategies regarding the future. In some cases,
you can identify forward-looking statements by terminology such as
"may," "will," "should," "expects," "plans," "anticipates," "believes,"
"intends," "estimates," "predicts," "potential," or "continue" or the
negative of these terms or other comparable terminology. These
statements are based on the current expectations or beliefs of
management of Infosys and are subject to uncertainty and changes in
circumstances that, if they were to never materialize or prove
incorrect, could cause actual results to differ materially from those
projected, expressed or implied in the forward-looking statements.
Factors that could cause actual results or outcomes to be materially
different from those anticipated in this press release include, among
others, the inability to obtain necessary regulatory approvals for the
proposed acquisition or to obtain them on acceptable terms; the risk
that the Agreement is terminated; the inability of Infosys or Lodestone
to satisfy the conditions to the closing of the proposed acquisition;
the inability of Infosys to successfully integrate Lodestone and its
services, employees and customers; and any disruptions in the market
for the products and services of Infosys and Lodestone. Additional
risks that could affect these forward-looking statements are more fully
described in Infosys' filings with the U.S. Securities and Exchange
Commission, including its Annual Report on Form 20-F for the fiscal
year ended March 31, 2012, and its subsequent filings on Form 6-K.
These filings are available at http://www.sec.gov. Infosys does not
undertake to update any forward-looking statements.
Details of Press Conference
Infosys will host a press conference on September 10, 2012 at 12:45 p.m.
IST at the Infosys Headquarters, Electronics City, Bangalore.
SOURCE: Infosys Ltd
For further information:
Press Contacts: For more information, press only: Infosys Limited, Sukanya Ghosh, Phone +917829915577, Sukanya_ghosh02@infosys.com; Lodestone Holding AG, Deborah Bucher, Phone +41 44 434 11 00, firstname.lastname@example.org