INSUBCONTINENT EXCLUSIVE:
Infosys to acquire digital marketing agency Oddity for $50 millionNew Delhi: Information Technology company Infosys will acquire Oddity,
Germany-based digital marketing, experience, and commerce agency, in an all-cash deal for $50 million (about Rs 380 crore), the company said
on Tuesday.As part of Infosys' digital experience and design offering, Oddity will become part of Wongdoody and join its network of studios
across Seattle, Los Angeles, New York, Providence, Houston, London, and design hubs in five cities in India, Infosys said in a statement.The
company had acquired US-based Wongdoody, which offers creative and marketing services, in a $75 million deal in 2018."To consummate the
transaction, Infosys will also acquire Germany-based Kristall 247 for 3,000 euros (about Rs 2.5 lakh)," the Indian IT firm said.Infosys said
Oddity's acquisition cost is "up to 50 million euros, including earn-out, management incentives and bonuses." With more than 300 digital
experts, Oddity is one of the largest independent digital agencies, the statement said."With oddity's digital commerce and marketing
knowledge and its metaverse-ready set-up, it is the perfect complement to Infosys' prowess in technological transformation," Infosys
President Ravi Kumar S said.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, the
statement said.Acquisition of Oddity is expected to close during the first quarter of FY23.
