Key Highlights:
- Oddity’s digital commerce and marketing knowledge as well as the metaverse-ready set-up will complement Infosys’ prowess in technological transformation.
- Infosys acquiring Oddity is expected to take place close in April 2022.
- Infosys employees will be asked to work from the office two days per week.
Infosys has announced that it will acquire Oddity in a €50 million all-cash deal. The oddity is a Germany-based digital marketing company.
Infosys is looking to expand the digital experience and design offering and Oddity will become part of Wongdoody and join the network studios across Seattle, Los Angeles, New York, Providence, Houston, and London. It will design hubs in five cities in India.
In 2018, Infosys acquired the U.S.-based Wongdoody offers creative and marketing services in a $75 million deal.
Infosys will acquire oddity for €50 million
The company stated that to consummate the transaction, Infosys will acquire Germany-based Kristall 247 for €3,000. Infosys confirms that the cost of acquisition for Oddity is up to €50 million, including earn-out, management incentives, and bonuses.
The oddity is one of the largest independent digital agencies with over 300 digital experts. Oddity’s digital commerce and marketing knowledge as well as the metaverse-ready set-up will complement Infosys’ prowess in technological transformation.
Oddity has a comprehensive service portfolio that offers digital-first brand management and communication. It has in-house production along with virtual and AI experience design and e-commerce services across Europe and China.
The reports suggest that the acquisition of oddity is expected to close during the first quarter of FY23.
Employees return to Office
Infosys said that it is planning to phase return to the office for its employees. The employees will be asked to work in the office for at least 2 days per week. The Executive Vice President and Head at Infosys, Richard Lobo said, “In a steady-state, subject to Covid-19 scenarios, we expect a hybrid model in which approximately 40-50 percent of employees are likely to work from office post subsequent phases of return to the office.”
