TechTaffy

tech:

taffy

Infosys To Acquire Lodestone For $350M

By TechTaffy Desk

[Techtaffy Newsdesk]

Bangalore-based Infosys has signed a definitive agreement to acquire management consultancy firm Lodestone, for an aggregate enterprise value of roughly $350 million. Headquartered in Zurich, Lodestone advises companies on strategy and process optimization, and provides business transformation solutions enabled by SAP.

The Lodestone acquisition will significantly enhance its global presence, says Infosys, particularly in continental Europe and emerging markets like Latin America and Asia Pacific. Upon completion, the acquisition  will be bringing more than 850 employees, including 750  SAP consultants to the company. Lodestone will add more than 200 clients across industries including Manufacturing, Automotive and Life Sciences, to the Infosys pool of over 700 clients. Post-acquisition, the combined Consulting practice focusing on SAP programs is expected to deliver revenues of more than $1 billion.

Infosys Consulting & Systems Integration business curently has more than 30,000 consultants across 10 industry verticals and accounts for 31% of the company’s revenue.

Linklaters is acting as legal advisor to Infosys. UBS is acting as financial advisor and Baker & McKenzie is acting as legal advisor to Lodestone.

The transaction is currently expected to close by the end of October 2012, subject to customary closing conditions.

Just in

Series A

Tembo raises $14M

Cincinnati, Ohio-based Tembo, a Postgres managed service provider, has raised $14 million in a Series A funding round.
Around the web

Raspberry Pi is now a public company — TC

Raspberry Pi priced its IPO on the London Stock Exchange on Tuesday morning at £2.80 per share, valuing it at £542 million, or $690 million at today’s exchange rate, writes Romain Dillet. 
Fundings

AlphaSense raises $650M

AlphaSense, a market intelligence and search platform, has raised $650 million in funding, co-led by Viking Global Investors and BDT & MSD Partners.
Around the web

Elon Musk’s xAI raises $6B to take on OpenAI — VentureBeat

Confirming reports from April, the series B investment comes from the participation of multiple known venture capital firms and investors, including Valor Equity Partners, Vy Capital, Andreessen Horowitz (A16z), Sequoia Capital, Fidelity Management & Research Company, Prince Alwaleed Bin Talal and Kingdom Holding, writes Shubham Sharma. 
IT

Capgemini partners with DARPA to explore quantum computing for carbon capture

Capgemini Government Solutions has launched a new initiative with the Defense Advanced Research Projects Agency (DARPA) to investigate quantum computing's potential in carbon capture.