Infosys set to acquire Simplus for US $250 million

Global leader in technology services and consulting, Infosys said that it plans to acquire Simplus, a certified platinum salesforce partner, in a deal of around US $250 million.

Infosys informed the stock exchanges on February 10, 2020 after the market hours that the acquisition is expected to close during the fourth quarter of fiscal 2020. The company took this move to boost cloud revenue and enhance its digital growth.

The firm further stated that the acquisition will be done through the company’s wholly-owned subsidiary-Infosys Nova Holdings in US $200 million cash and the rest US $50 million as employee incentives.

Ryan Westwood, CEO & Co-Founder of Simplus said that the alignment and partnership of the two companies would accelerate growth of both the companies and together, they would become the strongest and most-respected partner in the salesforce ecosystem.

At the time of market closing, the stock of Infosys was trading at Rs 773.80, up by 0.07 per cent against its previous close of Rs 773.25. The market on Tuesday had opened at Rs 776.20 on BSE.