Strategic acquisition to further strengthen Infosys' digital
experience capabilities in Germany, across Europe, and Northeast Asia
BENGALURU, India and
STUTTGART, Germany, March 22, 2022 /PRNewswire/ -- Infosys (NSE:
INFY) (BSE :INFY) (NYSE: INFY) a global leader in
next-generation digital services and consulting, today announced a
definitive agreement to acquire oddity, a
Germany-based digital marketing,
experience, and commerce agency. The move strengthens Infosys'
creative, branding and experience design capabilities, and
demonstrates its continued commitment to co-create with clients and
help them navigate their digital transformation journey.
With more than 300 digital experts located in Stuttgart, Berlin, Cologne, Belgrade, Shanghai and Taipei, oddity is one of the largest
independent digital agencies from Germany.
Enabling digital transformation for leading German omni-channel,
e-commerce retailers, leading FMCG brands and global mobility
providers, oddity has a comprehensive service portfolio comprising
digital-first brand management and communication, in-house
production, including virtual and augmented reality, experience
design and e-commerce services across Europe and China.
Together with Infosys' earlier acquisition of WONGDOODY, which
offers creative and marketing services, oddity will help global
CMOs, and businesses thrive in a digital commerce world with
complementary skills and expertise. As part of Infosys' digital
experience and design offering, oddity will become part of
WONGDOODY, an Infosys company, and join its network of studios
across Seattle, Los Angeles, New
York, Providence,
Houston, and London, and design hubs in five cities in
India.
Ravi Kumar S, President, Infosys, said, "We find
ourselves at the cusp of the next generation of the internet, the
merging of the physical and virtual worlds. With this vision, we
are excited to strengthen our experience and marketing skills with
oddity, to deliver forward-thinking, holistic solutions at a global
scale. With oddity's digital commerce and marketing knowledge as
well as its metaverse-ready set-up, it is the perfect complement to
Infosys' prowess in technological transformation."
"The future of better human-centered marketing lies in the
symbiosis of creativity and technology (data, automation, AI). This
is where we see the opportunity for a unique differentiation
together with Infosys and WONGDOODY. We are ambitious to further
develop our services jointly and are proud to become part of one of
the world's most respected digital tech companies." said oddity
founders Frank Boegner, Marc Bürkle,
Simon Umbreit and Christian
Gölz.
Ben Wiener, CEO, WONGDOODY, an
Infosys company, added, "Meeting oddity was like meeting a
long-lost twin. We share the same values and vision around the
power of creativity to accelerate digital transformation for our
clients, while recognizing that it's our people and culture that
drive our success. We are united in our shared belief that digital
transformation is at its best when it is consistently approached
from a people-based, needs-centred perspective."
The acquisition is expected to close during the first quarter of
fiscal 2023 (April 2022), subject to
customary closing conditions.
About oddity
oddity is a digital communication and commerce agency, here to
find better answers for people's needs in our on-demand world by
going deeper, co-creating, and empowering each other. With
locations in Stuttgart,
Berlin, Belgrade, Cologne, Shanghai, and Taipei, we provide over 300 digital experts a
professional home. Co-creating with our clients, we craft digital
solutions, brand worlds, campaigns, and liquid content for social
media. Entire ecosystems that connect with customers, fostering
brand loyalty while delivering a strong impetus to buy throughout a
broad spectrum of sectors in B2B and B2C. For more information
please visit www.odt.net.
About WONGDOODY, an Infosys company
WONGDOODY is an award-winning creative agency and the global
experience-and-design platform for Infosys. The company is
recognized for branding, retail, and consumer insights. With
offices in Seattle, New York, Los
Angeles, Providence, and
across the globe; WONGDOODY clients have included Amazon, Honda,
CITI, and a wide range of Fortune 500 companies.
About Infosys
Infosys is a global leader in next-generation digital services
and consulting. We enable clients in more than 50 countries to
navigate their digital transformation. With over four decades of
experience in managing the systems and workings of global
enterprises, we expertly steer our clients through their digital
journey. We do it by enabling the enterprise with an AI-powered
core that helps prioritize the execution of change. We also empower
the business with agile digital at scale to deliver unprecedented
levels of performance and customer delight. Our always-on learning
agenda drives their continuous improvement through building and
transferring digital skills, expertise, and ideas from our
innovation ecosystem.
Visit www.infosys.com to see how Infosys (NSE, BSE,
NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth
prospects, financial expectations and plans for navigating the
COVID-19 impact on our employees, clients and stakeholders are
forward-looking statements intended to qualify for the 'safe
harbor' under the Private Securities Litigation Reform Act of 1995,
which involve a number of risks and uncertainties that could cause
actual results to differ materially from those in such
forward-looking statements. The risks and uncertainties relating to
these statements include, but are not limited to, risks and
uncertainties regarding COVID-19 and the effects of government and
other measures seeking to contain its spread, risks related to an
economic downturn or recession in India, the United
States and other countries around the world, changes in
political, business, and economic conditions, fluctuations in
earnings, fluctuations in foreign exchange rates, our ability to
manage growth, intense competition in IT services including those
factors which may affect our cost advantage, wage increases in
India, our ability to attract and
retain highly skilled professionals, time and cost overruns on
fixed-price, fixed-time frame contracts, client concentration,
restrictions on immigration, industry segment concentration, our
ability to manage our international operations, reduced demand for
technology in our key focus areas, disruptions in telecommunication
networks or system failures, our ability to successfully complete
and integrate potential acquisitions, liability for damages on our
service contracts, the success of the companies in which Infosys
has made strategic investments, withdrawal or expiration of
governmental fiscal incentives, political instability and regional
conflicts, legal restrictions on raising capital or acquiring
companies outside India,
unauthorized use of our intellectual property and general economic
conditions affecting our industry and the outcome of pending
litigation and government investigation. Additional risks that
could affect our future operating results are more fully described
in our United States Securities and Exchange Commission filings
including our Annual Report on Form 20-F for the fiscal year ended
March 31, 2021. These filings are
available at www.sec.gov. Infosys may, from time to time, make
additional written and oral forward-looking statements, including
statements contained in the Company's filings with the Securities
and Exchange Commission and our reports to shareholders. The
Company does not undertake to update any forward-looking statements
that may be made from time to time by or on behalf of the Company
unless it is required by law.
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