- 23 Mar 2022
- ICICIdirect Research
Infosys acquires OddityINFY - 1299 Change: -20.50 (-1.55 %)
News: Infosys informed the stock exchanges that it has signed a definitive agreement to acquire Oddity, a Germany-based digital experience & marketing agency. Infosys would be paying €50 mn including earn outs , management incentives and bonuses (2.3x price to sales) for 100% stake. With more than 300 digital experts located in Stuttgart, Berlin, Cologne, Belgrade, Shanghai and Taipei, Oddity is one of the largest independent digital agencies from Germany. The acquisition of Oddity is expected to get closed during the first quarter of FY23 (April 2022).
Views: Oddity has a comprehensive service portfolio comprising digital-first brand management and communication, in-house production, including virtual and augmented reality, experience design and e-com services across Europe, China. Oddity would become part of infosys’ earlier acquisition of WONGDOODY (that it acquired in 2018, offering marketing & brand engagement expertise). This acquisition would further strengthen Infosys’ digital experience capabilities in Germany, across Europe, and Northeast Asia, with Oddity’s digital commerce and marketing knowledge and its metaverse-ready set-up