Infosys stock hits 52-week high amid announcement by company to acquire Blue Acorn iCi

Infosys today informed that it has signed a definitive agreement to acquire a US-based data analytics company, Blue Acorn iCi.

This acquisition will help Infosys in providing end-to-end customer experience offerings and would also, demonstrates its continued commitment to helping clients navigate their digital transformation journey.

Blue Acorn iCi is an Adobe Platinum partner in the US as well as a leader in the digital customer experience, commerce & analytics. It will give Infosys, an advantage through the combination of customer experience, digital commerce, analytics, and experience-driven commerce services.

Infosys had recently acquired Wongdoody, which offers creative and marketing services. This new acquisition will enhance companies’ capabilities in Adobe, Magento, Salesforce Commerce, and Shopify ecosystems.

The stock today jumped more than 5.34 per cent and registered a new 52-week high of Rs 1,123.95 on BSE.

The stock of Infosys has recovered by 113.50 per cent from its sharp decline of March 2020. On a YTD basis, the stock has gained by 50.63 per cent. According to BSE data, the stock traded at a P/E multiple of 28.42 and a price-to-book ratio of 7.30.

At 3.10 pm today, the share of Infosys was trading at Rs 1,093.20 on BSE, up by 2.50 per cent.