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Infosys said that it has completed the acquisition of Lodestone, a Switzerland-based company.
India’s second largest IT exporter had acquired Lodestone in September for $350 million and had set some terms as a condition for the acquisition to go through. Both the companies’ Boards had to give their nod to these terms.
Some of the terms included post integration and management issues. Post integration, Lodestone will operate as a subsidiary and will be called “Infosys Lodestone” in Europe and while present CEO Ronald Hafner will continue in his role, BG Srinivas will be the Chairman.
Further, Lodestone’s present operations in Americas will be folded into Infosys. Apart from these terms, the acquisition was subject to anti-trust clearance from the European Union authorities. “The acquisition is in accordance with the terms set in the agreement,” Infosys said in a statement.
Linklaters LLP was the legal advisor to Infosys. This is the largest acquisition that Infosys has made till date. With this, it gets access to Lodestone’s 200 clients in Germany and Europe, in the technology and traditional consulting business.
venkatesh.ganesh@thehindu.co.in
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