Bengaluru, Aug 3 (IANS) Global software major Infosys on Thursday said it would acquire the London-based digital studio Brilliant Basics Holding Ltd for 7.5-million pounds (Rs 63 crore) in an all-cash deal.
“The acquisition of Brilliant Basics represents our commitment to expand our network of digital studios, which are focused on fulfilling the needs of our global clients for digital transformation solutions,” said the IT major in a filing on the BSE.
The acquisition, which includes earn-out and employee retention, is expected to be closed during this (second) quarter (July-September) of fiscal 2017-18.
The four-year old management-owned British firm’s customer experience studio is known for design thinking-led approach and experience in executing global programmes.
“Adding the studio’s design and customer experience capabilities has proven to be invaluable, helping us close large deals with a blend of skills,” said the company’s Deputy Chief Operating Officer S. Ravi Kumar in the statement.
The studio will enable the company to drive digital transformation solutions, which connect its clients’ systems of record to new systems of engagement.
“Being a member of the Infosys family allows us to enhance and scale the offering for our clients, as the software major has a unique vision and approach to partnership and acquisition,” said Brilliant Basics Founder and Chief Executive Anand Verma, who holds 85.5 per cent of its equity stock.
Besides in London, Basics has studios at Norwich in Britain and Dubai in the United Arab Emirates (UAE).
With its digital studios the world over, including in Bengaluru, Pune, New York, London and Melbourne, the outsourcing firm will enhance its domain expertise with Basics in the financial services, retail and telco sectors across Europe and West Asia.