IT Major Infosys Acquires Blue Acorn iCi for $125 Million, Plans to strengthen its Cross-Technology Capabilities
Infosys, the global leader in next-generation digital services and consulting has announced definitive agreement to acquire Blue Acorn iCi, a digital customer experience, commerce and analytics services provider, for up to $125 million (about 915 crore). Infosys stated in a statement “The move further strengthens Infosys’ end-to-end customer experience offerings and demonstrates its continued commitment to help clients navigate their digital transformation journey”.
Blue Acorn iCi, which follows the calendar year, clocked $43.6 million revenue in 2019. The acquisition is expected to close during the third quarter of 2021. Blue Acorn iCi, an Adobe Platinum partner is expected to bring to Infosys cross-technology capabilities through the convergence of customer experience, digital commerce, analytics, and experience-driven commerce services. Together with Infosys’ earlier acquisition of WONGDOODY that offers creative and marketing services, BlueAcorn iCi brings complementary capabilities to help global CMOs and businesses thrive in a digital commerce world. “With services that include strategy, analytics, design, and engineering, Blue Acorn iCi elevates marquee global brands across industries from media, consumer goods & retail, to financial services, manufacturing and technology,” Infosys said.
This acquisition further deepens Infosys’ capabilities in the Adobe, Magento, Salesforce Commerce and Shopify ecosystems, it said. The acquisition is being undertaken by Infosys Nova Holdings, LLC, a wholly-owned subsidiary of Infosys Ltd.
“We are focused on partnering with global brands and CMOs to help them navigate their digital experience and commerce challenges. The Blue Acorn iCi acquisition is another important milestone in Infosys’ journey to build capabilities relevant to the digital priorities of our clients and reaffirms our commitment to the Adobe ecosystem,” stated Ravi Kumar S, President, Infosys.
Blue Acorn iCi group is owned by Beringer Capital, company management and previous owners. The company is headquartered in Charleston, USA, and has presence across the US. Its revenue in 2019 was at $43.6 million. With services that include strategy, analytics, design, and engineering, Blue Acorn iCi works with brands across industries from media, consumer goods and retail, financial services, manufacturing and technology.
Chris Guerra, Co-CEO of Blue Acorn iCi, said by becoming a part of the Infosys family, Blue Acorn iCi will be able to better serve clients and their customers as it elevates its scale, technical acumen, global reach, creative capabilities and consumer insight expertise. “Together, we will be able to offer unrivalled services and insights to help companies become the new leaders of digital experience & commerce,” he added.