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Infosys acquires digital marketing agency oddity | Legal Xpress News
News By/Courtesy: PRINCE KUMAR SONI | 24 Mar 2022 22:47pm IST

HIGHLIGHTS

  • Global IT Company Infosys will acquire the German digital marketing , and commerce agency for 50 million euros {419crore}.
  • The deal strengthens the Infosys’s creative , branding , and experience designs and capabilities of the company.
  • With more than 300 digital experts , oddity is one of the largest independent digital agency of the Germany.

INFOSYS ACQUIRES DIGITAL MARKETING AGENCY ODDITY

Infosys announced a definitive agreement for the assurance of a german digital marketing agency ‘oddity’. Infosys itself being a global IT software and designing company ensured the rise in capability and strengthen the creativity, branding and experience designs and capability of Infosys. The stroke of Infosys is also helpful in demonstrating its commitment to co-create with the clients and help them navigate their digital transformation journey. Infosys is a global leader in next-generation digital service and consulting. It enables clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the system and working of global enterprises. The oddity is being acquired for 50 million euros which are approx 419 crore INR including earning out management incentives and bonuses.

The oddity is one of the largest and most independent digital agencies in Germany with more than 300 digital experts located in Stuttgart, Berlin, Cologne, Belgrade, Shanghai and Taipei. Enabling digital transformation for leading German omnichannel, e-commerce retailers, leading FMCG brands and global mobility providers, an oddity has a comprehensive service portfolio comprising digital-first brand management and communication, in-house production, and also includes virtual and augmented reality, experience design and e-design commerce services across Europe and China. As being part of Infosys’s digital experience and design, oddity will be the part of the wongdoody’s network of studios across Seattle, Los Angeles, New York, Providence, Huston, and London, and design hubs in five cities of India. The expected date for the acquisition is expected to close during the first quarter of fiscal 2023,{April 2022}, subject to the customary closing conditions and the amount invested is not disclosed by both the firm.

Wongdoody has been acquired earlier by Infosys, which offers creative and marketing services, and Infosys opined that Oddity will help global CMOs and businesses thrive in a digital commerce world with complementary skills and expertise.  With oddity’s digital commerce and marketing knowledge as well as its metaverse ready set-up, it is the perfect compliment to Infosys prowess in technological transformation.’’ Oddity founder Frank Bogner, Mark Burkle, Simon Umbreit and Christian Golz, said: The future of better human-centred marketing lies in the symbiosis of creativity and technology. this is where we see the opportunity for a unique differentiation together with Infosys and WONGDOODY. We are ambitious to the further development of our service jointly and are proud to become part of one of the world’s most respected digital tech companies. Ben Wiener, CEO, wongdoody { company under Infosys }, stated that: ‘’ meeting oddity was like meeting a long-lost twin. 

Section Editor: KADAM HANS | 29 Mar 2022 21:33pm IST

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Tags : #INFOSYS , #ODDITY , #WONGDOODY , #SOFTWARE , #FINANCIAL YEAR

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