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Infosys Acquires Lodestone for $ 350 M

India’s second largest IT Company, Infosys has agreed to acquire Zurich based SAP implementation and management consultancy firm Lodestone in a full cash deal. Lodestone is a major competitor in the SAP domain and has thoroughly experiences of transformational change.

Infosys held on Lodestone on to $3.7 billion in cash at the end of June quarter, now they pay CHF 330 million or $350 million for this deal. The transaction is likely to end by the last of October 2012, subject closing conditions. The Lodestone acquirement will also importantly augment Infosys’ global existence, mainly in continental Europe and emerging markets in Latin America and Asia pacific.

"A key plank of our Infosys 3.0 plan is to spread out our C&SI. This acquirement fits perfectly into that strategy. Lodestone and Infosys share a customs of unwavering focus on nurturing and maintaining client faith”, said S D Shibulal, CEO & Managing Director of Infosys.

Post-acquisition, the joint consulting practice focusing on SAP programs will bring revenues of more than $1 billion, the report added.

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