Infosys Ltd, the IT services company announced on Friday that it reached an agreement to make the acquisition of WongDoody Holding Co., a digital creative and consumer insights agency based in America for $75 million.
“On 13 April 2018, the company entered into a definitive agreement to acquire WongDoody… for a total consideration of up to $75 million including consideration and retention payouts, subject to regulatory approvals and fulfillment of closing conditions,” Infosys said in a regulatory filing.
Infosys Ltd. bought out the firm in order to strengthen the firm’s creative, branding and customer experience abilities. The deal, which is subject to customary closing conditions, is expected to be complete at the start of FY19.
“With Infosys Digital Studios spanning the globe—from Bengaluru and Pune to New York, London, and Melbourne—the addition of WongDoody strengthens Infosys’ ability to fulfill the needs of global clients for comprehensive digital transformation solutions required to meet customer demand for next-generation, enhanced customer experiences,” Infosys said.
WongDoody, founded in 1993 and based in Seattle with an office in Los Angeles as well boasts a clientele that spreads across several market segments such as telecommunications, consumer electronics, healthcare and consumer packaged goods.
“We are focused on partnering with global brands and CMOs to help them on their digital transformation journeys, by developing a digital experience services ecosystem with services ranging from strategy, design and user experience, to creative and digital marketing across the customer experience value chain,” said Infosys president and deputy COO Ravi Kumar S.
“WongDoody’s expertise in driving innovative creative solutions is already yielding significant results in Infosys’ initial collaborations with clients, and this acquisition will further enhance the company’s capabilities in this space,” he added.