Narayan Murthy, Founder, Infosys
Established in 1981, Infosys is a NYSE listed global consulting and IT services company with more than 239k employees. From a capital of US$250, we have grown to become a US$12.77 billion (Q1 FY21 revenues) company with a market capitalization of approximately US$41.14 billion. In the journey of 39 years, Infosys has catalyzed some of the major changes that have led to India's emergence as the global destination for software services talent. The company pioneered the Global Delivery Model and became the first IT Company from India to be listed on NASDAQ. Some employee stock options program created some of India's first salaried millionaires. Infosys Ltd is a global technology services firm that defines designs and delivers information technology (IT)-enabled business solutions to their clients. The company provides end-to-end business solutions that leverage technology for their clients including technical consulting design development product engineering maintenance systems integration package-enabled consulting and implementation and infrastructure management services. The Company has presence in 191 locations across 46 countries as on March 31 2019. The company also provides software products to the banking industry. They have developed Finacle a universal banking solution to large and medium size banks across India and overseas.
Infosys BPO is a majority owned subsidiary. Through Infosys BPO the company provides business process management services such as offsite customer relationship management finance and accounting and administration and sales order processing.
The company is having marketing and technical alliance with FileNet IBM Intel Microsoft Oracle and System Application Products. Infosys Ltd is a public limited and India's second largest software exporter company was incorporated in the year 1981 as Infosys Consultants Pvt. Ltd. by Mr.N.R.Narayana Murthy at Karnataka. The Company was started by seven people with the investment of USD 250.
The company became a public limited company in the year 1992. The company was the first Indian company to be listed on the NASDAQ in the year 1999. Infosys also forms a part of the NASDAQ-100 index. Continuously in the year 2001 2002 and 2003 the company wins the National Award for Excellence in corporate governance conferred by the Government of India. In April 2002 Infosys BPO Ltd was incorporated in India to address opportunities in business process management. In the year 2004 the company acquired 100% equity in Expert Information Services Pty Ltd Australia for USD 24.3 million. The acquired company was renamed as Infosys Technologies (Australia) Pty Ltd. In October 2 2004 they set up a wholly owned subsidiary in People's Republic of China named Infosys Technologies (China) Co Ltd. In the year 2005 the company established Infosys Consulting Inc a wholly owned subsidiary in Texas US to add high-end consulting capabilities to their Global Delivery Model. The company was selected as 'Best Outsourcing Partner' by the readers of Waters a publication covering the needs of chief information officers in the capital market firms. In the year 2007 the company increased the stake value in Progeon to
98.9% after acquiring shares from Citicorp International Financial Company. Infosys had taken over Philips' finance and administration business process outsourcing (BPO) centers spread across India Poland and Thailand for USD 28 million. Infosys set up various Special Economic Zone that for the company has an additional tax benefit. They set up another Special Economic Zone unit in Chandigarh which will be eligible for 100% deduction of profit from exports tax calculation for the first five years followed by 50% deduction for next five years. Infosys has been pursuing their expansion plans over the past few years. The future enhancement of the company is to emerge the developing economies changing the business landscape with help of accessible talent pools and the adoption of nonlinear growth model.
Infosys to acquire Blue Acorn iCi for up to $ 125 million
The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey, Infosys said in a statement. IT services major Infosys on Thursday said it has inked a pact to acquire Blue Acorn iCi, a digital customer experience, commerce and analytics services provider, for up to $125 million (about Rs 915 crore). The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey, Infosys said in a statement. Together with Infosys’ earlier acquisition of WONGDOODY that offers creative and marketing services, BlueAcorn iCi brings complementary capabilities to help global CMOs and businesses thrive in a digital commerce world, it added. This acquisition further deepens Infosys’ capabilities in the Adobe, Magento, Salesforce Commerce and Shopify ecosystems, it said.
The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey, Infosys said in a statement. The cost of the acquisition – which is expected to close during the third quarter of FY 2021, subject to customary closing conditions – is "up to $125 million including management incentives and bonuses”, Infosys said in a regulatory filing.The acquisition is being undertaken by Infosys Nova Holdings, LLC, a wholly-owned subsidiary of Infosys Ltd.Blue Acorn iCi group is owned by Beringer Capital, company management and previous owners.
The company is headquartered in Charleston, USA, and has presence across the US. Its revenue in 2019 was at $43.6 million.
With services that include strategy, analytics, design, and engineering, Blue Acorn iCi works with brands across industries from media, consumer goods and retail, financial Services, manufacturing and technology.
We are focused on partnering with global brands and CMOs to help them navigate their digital experience and commerce challenges.
The Blue Acorn iCi acquisition is another important milestone in Infosys’ journey to build capabilities relevant to the digital priorities of our clients and reaffirms our commitment to the Adobe ecosystem,” Infosys President Ravi Kumar S said.Chris Guerra, Co-CEO of Blue Acorn iCi, said by becoming a part of the Infosys family, Blue Acorn iCi will be able to better serve clients and their customers as it elevates its scale, technical acumen, global reach, creative capabilitiesand consumer insight expertise."Together, we will be able to offer unrivaled services and insights to help companies become the new leaders of digital experience & commerce,” he added.