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Last Updated : Apr 13, 2018 05:17 PM IST | Source: Moneycontrol.com

Infosys announces acquisition of US firm WongDoody Holding for $75 million

The company entered into a definitive agreement to acquire the US-based digital creative and consumer insights agency for the said amount, which also included contingent consideration and retention payouts, subject to regulatory approvals and fulfillment of closing conditions, Infosys said

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IT bellwether, Infosys, on Friday announced the acquisition of WongDoody Holding Company for a value of USD 75 million.

The company entered into a definitive agreement to acquire the US-based digital creative and consumer insights agency for the said amount, which also included contingent consideration and retention payouts, subject to regulatory approvals and fulfillment of closing conditions, Infosys said in a statement along with its quarterly results announcement.

“The acquisition fits into the digital scale up for us. It is underwriting the strategy that we are exploring and executing in the market…We are continuing to look to what will fit into the digital framework,” Salil Parekh, MD & CEO of Infosys said while addressing a press briefing.

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India’s second largest information technology company, on Friday reported a 28 percent sequential fall in net profit to Rs 3,690 crore in the Q4FY18, in line with analysts' expectations.

The company forecast its annual constant currency revenue for FY19 to grow by 6-8 percent.

The Bengaluru-based tech giant's net profit came in at Rs 3,690 crore, compared to the Rs 3,722.4 crore estimated by analysts polled by Reuters.

The company reported revenue of Rs 18,083 crore for the quarter ended March, compared with Rs 17,794 crore reported in the December quarter.

The company recommended a final dividend of Rs 20.50/- per equity share for the financial year ended March 31, 2018 and special dividend of Rs 10/- per equity share.

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First Published on Apr 13, 2018 05:17 pm
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