As part of Infosys’ digital experience and design offerings, oddity will become part of Wongdoody, joining its network of studios in Seattle, Los Angeles, New York, Providence, Houston and London, and design hubs in five cities in India, Infosys said. in a statement.
IT firm Infosys will acquire Oddity – a Germany-based digital marketing, experience and trading agency – in a cash deal for $50 million (about Rs 380 crore), the company said Tuesday.
As part of Infosys’ digital experience and design offerings, oddity will become part of Wongdoody, joining its network of studios in Seattle, Los Angeles, New York, Providence, Houston and London, and design hubs in five cities in India, Infosys said. in a statement.
The company had acquired US-based Wongdoody, which offers creative and marketing services, in 2018 in a $75 million deal.
“To complete the transaction, Infosys will also acquire Germany-based Kristall 247 for EUR 3,000 (approximately Rs 2.5 lakh),” the Indian IT company said.
Infosys said the acquisition costs for oddity are “up to 50 million euros, including earn-out, management incentives and bonuses.” With more than 300 digital experts, oddity is one of the largest independent digital agencies, the statement said.
“With oddity’s knowledge of digital commerce and marketing, as well as its metaverse-ready setup, it perfectly complements Infosys’ capabilities in technology transformation,” said Infosys President Ravi Kumar S.
oddity has an extensive portfolio of services that includes digital-first brand management and communications, in-house manufacturing, including virtual and augmented reality, experience design and e-commerce services across Europe and China, the statement said.
The acquisition of oddity is expected to close in the first quarter of FY23.
This post Infosys buys digital marketing agency oddity for $50 million
was original published at “https://www.financialexpress.com/industry/infosys-to-acquire-digital-marketing-agency-oddity-for-50-million/2468222/”
