In a major development, IT services major Infosys said it will acquire Czech Republic-based GuideVision. The IT major will be acquiring the firm for about Rs 260.4cr.
The acquisition is being carried out by Infy Consulting Company Ltd, a step-down subsidiary of Infosys Ltd.
With this acquisition, Infosys is trying to strengthen its ServiceNow capabilities for its clients in Europe as GuideVision’s training academy and nearshore capabilities in Czech Republic, Hungary, Poland, and presence in Germany and Finland.
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 officials, the acquisition is expected to close during the third quarter of FY2021, subject to customary closing conditions.
Established in 2014, GuideVision is 100 per cent-owned by founders. The company is headquartered in Prague, Czech Republic and reported revenue of 12.9 million euros in 2019.
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“The combination of scalable and agile nearshore capabilities of GuideVision in Europe, and their unmatched delivery excellence, complements our own effort to help global enterprises navigate their next. We are excited to welcome GuideVision and its leadership team into the Infosys family,” Infosys President Ravi Kumar said.