Infosys to Acquire GuideVision, a Leading ServiceNow Elite Partner in Europe

Rhea-AI Summary

Infosys (NYSE: INFY) announced its agreement to acquire GuideVision, a leading consulting partner for ServiceNow in Europe, enhancing its cloud services portfolio. The acquisition aims to strengthen Infosys' nearshore delivery capabilities across Europe, particularly in the Czech Republic, Hungary, Poland, Germany, and Finland. GuideVision's proprietary tools, such as SnowMirror, will complement Infosys Cobalt offerings. This strategic move is expected to close in Q3 of fiscal 2021, further improving Infosys' service management solutions.

Positive

• Enhances Infosys' Cobalt cloud services portfolio.
• Strengthens nearshore delivery capabilities in Europe.
• GuideVision's proprietary tools will complement Infosys' offerings.
• Acquisition aligns with increasing demand for ServiceNow solutions.

Negative

• None.

Acquisition to augment Infosys Cobalt portfolio of cloud services and further strengthen nearshore delivery presence in Europe

BENGALURU, India and PRAGUE, Sept. 14, 2020 /PRNewswire/ -- Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a definitive agreement to acquire GuideVision, one of the largest ServiceNow Elite Partners in Europe. GuideVision is an award winning enterprise service management consultancy specialised in offering strategic advisory, consulting, implementations, training and support on the ServiceNow platform.

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. GuideVision's training academy and nearshore capabilities in Czech Republic, Hungary, Poland, and presence in Germany and Finland will strengthen Infosys' ServiceNow capabilities for its clients in Europe.

ServiceNow is one of the fastest growing enterprise software companies, and is becoming an 'essential service' and workflow standard for organizations. Infosys was recognized by ServiceNow as the 2019 and 2020 ServiceNow Global Service Provider Partner of the Year.

Ravi Kumar, President, Infosys, said, "This acquisition is an important milestone in our journey to build capabilities relevant to the digital priorities of our clients. This move reaffirms our commitment to the growing ServiceNow ecosystem. 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."

Narsimha Rao Mannepalli, EVP and Head - Cloud & Infrastructure, Infosys, said, "GuideVision's addition is another significant step towards strengthening our Infosys Cobalt offerings portfolio, bringing the combination of services, solutions and platforms, that acts as a force multiplier for cloud-powered enterprise transformation. Our recently announced Infosys Cobalt portfolio has a large repository of ServiceNow Industry Cloud solutions like ESM Café, and this will now be bolstered by GuideVision's SnowMirror suite of Industry templates."

Norbert Nagy, Co-Founder, GuideVision, said, "GuideVision's exceptionally high customer ratings are the result of our continuous effort to deliver superior consulting and implementation services. Joining Infosys brings an extended portfolio of services we can offer to our customers on their digital transformation journey. The global Infosys footprint is an exciting opportunity for both GuideVision customers and employees."

Pavel Muller, Co-Founder, GuideVision, added, "We are happy to become a part of the Infosys family and we strongly believe that the shared underlying values are a great foundation for our common goals in the future. Our combined expertise will further drive our customers' digital transformation in the European market."

The acquisition is expected to close during the third quarter of fiscal 2021, subject to customary closing conditions.

ServiceNow, Now Platform and others are among the trademarks of ServiceNow, Inc.

About Guidevision                                                                          

GuideVision is a dynamic and progressive consultancy committed to enabling clients to reimagine and transform their enterprise service management with ServiceNow. GuideVision offers a unique combination of strategic expertise, innovative technological knowledge and agile methodology. Our mission is to make ServiceNow work for you and your goals. www.guidevision.eu

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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SOURCE Infosys

FAQ

What is the purpose of the Infosys acquisition of GuideVision?

The acquisition aims to enhance Infosys' cloud services portfolio and strengthen its nearshore delivery capabilities in Europe.

What impact will the acquisition of GuideVision have on Infosys?

It will expand Infosys' ServiceNow capabilities, improve service management offerings, and enhance the overall client experience.

When is the Infosys acquisition of GuideVision expected to close?

The acquisition is expected to close during the third quarter of fiscal 2021, subject to customary closing conditions.

How will GuideVision contribute to Infosys' operations?

GuideVision will bring expertise in enterprise service management, proprietary tools, and a strong presence in key European markets.

What are the strategic benefits of this acquisition for Infosys (INFY)?

The acquisition is expected to bolster Infosys' ServiceNow solutions and increase its market share in the rapidly growing cloud services sector.