Infosys acquires Czech-based GuideVision
IT services major Infosys on Monday said it will acquire Czech Republic-based GuideVision for up to 30 million euros (about Rs 260.4 crore). The acquisition is being carried out by Infy Consulting Company Ltd, a step-down subsidiary of Infosys, a regulatory filing said.
“GuideVision’s training academy and nearshore capabilities in Czech Republic, Hungary, Poland, and presence in Germany and Finland will strengthen Infosys’s ServiceNow capabilities for its clients in Europe,” Infosys said in a statement.
GuideVision’s end-to-end offerings, including SnowMirror — a proprietary smart data replication tool for ServiceNow instances — enables over 100 enterprise clients to simplify complex business and IT processes.
ServiceNow is an enterprise software firm that develops cloud computing platforms to help companies manage digital workflows.
According to the filing, the cost of acquisition is “up to 30 million euros, including earn-out and bonuses”. The acquisition is expected to close during the third quarter of 2020-21, subject to customary closing conditions, it added.
“This acquisition is an important milestone in our journey to build capabilities relevant to the digital priorities of Infosys clients. This move reaffirms our commitment to the growing ServiceNow ecosystem and augments Infosys’s portfolio of cloud services,” the filing said.