Indian IT services firm Infosys buys management consultancy Lodestone

Indian IT services provider Infosys has grown its business consultancy with the acquisition of Swiss-based management consultancy Lodestone

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Indian IT services provider Infosys is increasing its business consultancy resources with the acquisition of Switzerland-based management consultancy Lodestone.

The £218m acquisition will help Infosys expand its SAP business to over £500m sales. It will also increase the IT services company’s European workforce by adding 750 SAP consultants, while adding 200 customers.

Lodestone is a specialist in sectors such as manufacturing, the automotive industry and life sciences.

Infosys CEO S. D. Shibulal said the acquisition will support the company’s expansion of its consulting and systems integration business.

In 2008 Infosys was involved in a bidding war with fellow Indian supplier HCL to buy UK SAP consultancy Axon Group. HCL won the race and took over Axon in a £440m deal.

Infosys showed double-digit growth in the past financial year, despite the slowdown. It  increased sales – by almost 16% to about $7bn – and expects growth next year of about 10%.

Despite a tough final three months of the year – sales fell just over 1% to $1.8bn compared to the previous quarter – Infosys added 52 customers.

See Computer Weekly’s guide to Infosys.

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