Infosys acquires US-based WongDoody for $75 million

Bengaluru: Infosys on Wednesday said that it has completed the acquisition of WongDoody Holding Company, a US-based digital creative and consumer insights agency, for a total consideration of upto $75 million.

“WongDoody, an award-winning creative agency with studios in Seattle and Los Angeles, brings to Infosys globally recognized creative talent and deep marketing and brand engagement expertise,” the company statement said.

“Through this acquisition, Infosys enhances its digital experience services ecosystem with services ranging from strategy, design and user experience, to creative and digital marketing across the customer experience value chain. Infosys further expands its worldwide network of Digital Studios that are fulfilling the needs of global clients for comprehensive digital transformation solutions required to meet customer demand for next-generation, enhanced customer experiences,” Infosys said.

Founded in 1993, WongDoody has clients across industries like telecommunications, consumer electronics, healthcare and consumer packaged goods.

Infosys, on April 13, reported a consolidated net profit of Rs 3,690 crore, or Rs 16.98 per share, in January-March 2018 quarter as compared to Rs 3,603 crore, or Rs 15.77 a share in the same period a year back.

For 2018-19, Infosys expects its revenue to grow in the range of 6-8 percent in constant currency terms and 7-9 percent in the US dollar terms. For financial year 2018-19 Infosys expects operating margin range at 22 percent to 24 percent.

The company said its revenues grew 5.6 percent to Rs 18,083 crore in the January-March quarter compared with Rs 17,120 crore in the year-ago period. Net profit was up 11.7 percent at Rs 16,029 crore, while revenues grew 3 percent to Rs 70,522 crore in FY2017-18 over the previous year.