Infosys bought Lodestone Management Consulting (LMC)
It’s official: Infosys has bought Lodestone Management Consulting (LMC).
You can find the details all over the news today:
India’s Infosys pays $350 mn for Swiss consultancy
MUMBAI — Indian IT outsourcing giant Infosys said Monday it had agreed to buy Zurich-based consulting firm Lodestone for $350 million as part of its strategy to move into higher value services.
Lodestone will add more than 850 staff and 200 clients across industries including manufacturing and the car sector to Infosys’ clientbase of 700 companies, the Bangalore-based firm said in a statement.
Analysts said Monday’s announcement was suited to Infosys’ future growth strategy.
“There have been concerns over Infosys’ lagging growth and unused cash balances. The acquisition is a positive step and fits with Infosys’ strategy to increase its presence in consulting,” said Rumit Dugar from Mumbai-based Religare Securities.
Shashi Bhushan, analyst with Mumbai’s Prabhudas Lilladher agreed, saying the firm had been looking for a consulting firm for a long time.
“This is the much needed inorganic booster for Infosys,” Bhushan said in a note to investors.
A meeting was held this morning amongst all of the Lodestone employees where Ronald Hafner, Lodestone’s CEO, explained the strategy behind this decision and layed out the next steps as part of the aquisition.
As it is publicly known, I’m a Lodestone consultant and likewise many of my colleagues, I do have a lot of questions about what this deal will mean for us in the future.
One thing I do have to admit: it’s for sure exciting at this stage to be part of this process!