tech:

taffy

Infosys To Acquire Lodestone For $350M

[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

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.