Infosys to acquire consultancy firm GuideVision; stock rises 3%

NEW DELHI: Shares of Infosys advanced 3 per cent in Monday's session after the company said it has decided to acquire GuideVision, a Czech enterprise service management consultancy specialised in offering strategic advisory, consulting, implementations, training and support.

The acquisition will cost Infosys 30 million euros including earn-out and bonuses. The acquisition is expected to close during the third quarter of fiscal 2021, subject to customary closing conditions.

“This acquisition is an important milestone in our journey to build capabilities relevant to the digital priorities of our clients. This move reaffirms our commitment to the growing ServiceNow ecosystem. The combination of scalable and agile nearshore capabilities of GuideVision in Europe, and their unmatched delivery excellence, complements our own effort to help global enterprises navigate their next,” said Ravi Kumar, President, Infosys.

GuideVision’s end-to-end offerings, including SnowMirror - a proprietary smart data replication tool for ServiceNow instances - enables over 100 enterprise clients to simplify complex business and IT processes.

GuideVision’s training academy and nearshore capabilities in Czech Republic, Hungary, Poland, and presence in Germany and Finland will strengthen Infosys’ ServiceNow capabilities for its clients in Europe.

“GuideVision's exceptionally high customer ratings are the result of our continuous effort to deliver superior consulting and implementation services. Joining Infosys brings an extended portfolio of services we can offer to our customers on their digital transformation journey,” said Norbert Nagy, Co-Founder, GuideVision.

Shares of Infosys were up 3.45 per cent to Rs 978 on BSE.