Strategic acquisition to further strengthen Infosys’ digital experience capabilities in Germanyon the other side Europeand Northeast Asia
BENGALERU, India and STUTTGART, Germany, March 22, 2022 /CNW/ — Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a definitive agreement to acquire singularity, a Germanydigital marketing, experience and commerce agency. This decision strengthens Infosys’ creative, branding and experience design capabilities, and demonstrates its continued commitment to co-creating with its customers and helping them navigate their digital transformation journey.
With more than 300 digital experts established in stuttgart, Berlin, Cologne, Belgrade, Shanghai and taipeioddity is one of the largest independent digital agencies in Germany.
Enabling digital transformation for leading German omnichannel retailers, e-commerce, leading FMCG brands and global mobility providers, oddity has a comprehensive service portfolio including digital-first brand management and communication, production internal, including virtual and augmented reality, experience design and e-commerce services across Europe and China.
With Infosys’ earlier acquisition of WONGDOODY, which offers creative and marketing services, oddity will help global CMOs and enterprises thrive in a world of digital commerce with complementary skills and expertise. As part of Infosys’ digital experience and design offering, oddity will become part of WONGDOODY, an Infosys company, and join its network of studios across Seattle, Los Angeles, new York, Providence, Houstonand Londonand design hubs in five cities in India.
Ravi Kumar S, President, Infosyssaid: “We stand at the dawn of the next generation of the Internet, the merging of the physical and virtual worlds. With this vision, we are excited to strengthen our experience and skills in marketing with quirkiness, to deliver a vision forward-thinking, holistic solutions on a global scale. With oddity’s knowledge of digital commerce and marketing as well as its metaverse-ready setup, it’s the perfect complement to Infosys’ prowess in matter of technological transformation.“
“The future of better human-centric marketing lies in the symbiosis of creativity and technology (data, automation, AI). This is where we see the opportunity for a unique differentiation with Infosys and WONGDOODY. We are ambitious to further develop our services jointly and are proud to be part of one of the most respected digital technology companies in the world.” noted founders of oddity Frank BoegnerMark Burkle, Simon Umbreit and Christian Gölz.
Ben WienerCEO, WONGDOODY, an Infosys companyadded, “Meeting Oddities was like meeting a long-lost twin. We share the same values and vision around the power of creativity to accelerate our customers’ digital transformation, while recognizing that these are our people and our culture that drive our success We are united in our shared belief that digital transformation is at its best when it is consistently approached from a people-centric and needs-centric perspective.“
The acquisition is expected to close in the first quarter of fiscal 2023 (April 2022), subject to customary closing conditions.
About the oddity
oddity is a communications and digital commerce agency, here to find better answers to the needs of people in our on-demand world by digging deeper, co-creating and empowering each other. With locations in stuttgart, Berlin, Belgrade, CologneShanghai and taipei, we provide more than 300 digital experts with a professional welcome. By co-creating with our clients, we design digital solutions, brand universes, campaigns and liquid content for social media. Entire ecosystems that connect with customers, fostering brand loyalty while driving purchase momentum across a wide range of B2B and B2C industries. For more information, please visit www.odt.net.
About WONGDOODY, an Infosys Company
WONGDOODY is an award-winning creative agency and Infosys’ global experience and design platform. The company is recognized for its brand image, retail and consumer insights. With offices at Seattle, new York, Los Angeles, Providence, and around the world; WONGDOODY customers include Amazon, Honda, CITI and a wide range of Fortune 500 companies.
Infosys is a global leader in next-generation digital consulting and services. We enable customers in over 50 countries to navigate their digital transformation. With over four decades of experience managing the systems and operations of global enterprises, we expertly support our clients throughout their digital journey. We do this by empowering the business with an AI-powered core that helps prioritize change execution. We also equip the business with agile digital at scale to deliver unprecedented levels of performance and customer satisfaction. Our lifelong learning program drives their continuous improvement by developing and transferring digital skills, expertise and insights from our innovation ecosystem.
To visit infosys.com to see how Infosys (NSE, BSE, NYSE:INFY) can help your business navigate your next.
Certain statements in this release regarding our future growth prospects, financial expectations and plans to manage the impact of COVID-19 on our employees, customers and stakeholders are forward-looking statements intended to qualify for the “sphere Security” under the Private Securities Litigation Reform Act. 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those contained in such forward-looking statements. The risks and uncertainties associated with these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of governmental and other measures to contain its spread, risks relating to an economic downturn or recession in India, United States and other countries around the world, changes in political, business and economic conditions, fluctuations in earnings, fluctuations in currency exchange rates, our ability to manage growth, intense competition in IT services, including factors that could to affect our cost advantage, salary increases in Indiaour ability to attract and retain highly skilled professionals, time and cost overruns on fixed price and fixed term contracts, customer concentration, immigration restrictions, concentration of industry segments , our ability to manage our international operations, reduced demand for technology in our core focus areas, telecommunications network disruptions or system failures, our ability to complete and integrate potential acquisitions, liability for damages to our service contracts, the success of companies in which Infosys has made strategic investments, the withdrawal or expiration of government tax incentives, political instability and regional conflicts, legal restrictions on raising capital or acquisition of foreign companies India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigations. Additional risks that could affect our future results of operations are further described in our filings with the United States Securities and Exchange Commission, including our Annual Report on Form 20-F for the year ended March 31, 2021. These files are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company, except as required by law.
Show original content: http://www.newswire.ca/en/releases/archive/March2022/22/c8216.html