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Infosys in talks for Lodestone acquisition: Financial Express
Posted on Monday, 16 July 2012 14:32
Indian IT services provider Infosys is in talks to acquire Zurich-based Lodestone Management Consultants, according to the Financial Express (FE), citing a senior Infosys official.
This person, who spoke on condition of anonymity, has been quoted as saying the listed business is interested in a purchase as a result of the target’s consulting capabilities, and added that a deal could be worth more than USD 300.00 million.
FE also said that the target may weigh up the possibility of a sale via an auction process in order to increase the possibility of a higher valuation.
Lodestone provides management consultancy services on a global scale.
The company was formed in August 2005 by Ronald Hafner, Jürgen Bauer and Peter Ödman and initially operated with 25 employees in its two offices in Germany and Switzerland.
It now has 840 staff across 17 countries on five continents, and in 2011 alone established subsidiaries in the Netherlands, Brazil and Austria.
Lodestone recorded revenues of CHF 207.00 million (USD 210.67 million) in fiscal 2011, up 14.4 per cent on the CHF 181.00 million (USD 184.22 million) generated in 2010.
Infosys was founded in 1981 and is a global leader in the consulting, technology and outsourcing sectors, according to its website.
With 68 offices worldwide and clients in more than 30 countries, the business employed 151,151 people as at the end of June this year and is listed on Nasdaq.
Headed by chief executive and co-founder S.D. Shibulal, the firm recorded income of INR 312.54 billion (USD 5.68 billion) in fiscal 2011, up 23.1 per cent on 2010.
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