Infosys acquire salesforce consulting partner-Simplus

Bangaluru-headquartered IT services major, Infosys announced that it has completed the acquisition of Simplus, one of the fastest-growing salesforce platinum partners operating in the US and Australia.

Earlier this year in February, the company had announced that it will acquire Simplus in a deal amounting to US$ 250 million. The target company is a recognised player in cloud consulting, implementation, data integration, change management and training services for CPQ salesforce or configure, price, quote software and billing application.

Simplus was previously majority-owned by institutional investors, founders and key employees, with Salesforce Ventures having a minority stake. For the fiscal year ended January 31, 2020, its revenue was reported at US$ 67.1 million.

Infosys stated that the acquisition will help to further elevate its position as an end-to-end salesforce enterprise cloud solutions and services provider. It added that the acquisition brings globally recognised salesforce expertise, industry knowledge, solution assets, deep ecosystem relationships and a broad clientele across a variety of industries including high-tech, financial services, retail, healthcare, life sciences and manufacturing.

Infosys Limited provides IT consulting and software services, including e-business, program management and supply chain solutions.

At 12 pm on Monday, the stock was trading at Rs 595.40, down by 7.31 per cent or Rs 47.05 per share. The 52-week high is recorded at Rs 847.40 and the 52-week low is Rs 568.80 on BSE.