Infosys Limited
Acquisitions
12
Major Deals Covered
$1.3B
Disclosed Deal Value
Infosys's largest disclosed acquisition here is In-tech for $485M in 2024. This page covers 12 major deals from 2015 to 2025, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Simplus | 2020 | $250.0M | Infosys acquired Simplus, an US-based Salesforce consulting and implementation firm, for approximately $250 million in March 2020. The deal was designed to strengthen Infosys' Salesforce ecosystem capabilities - particularly in quote-to-cash transformation, CPQ (Configure, Price, Quote), and cloud CRM implementation - while adding North American enterprise client relationships. |
| Panaya | 2015 | $200.0M | Infosys acquired Panaya, an Israel-based cloud company specializing in enterprise software testing and change impact analysis, for $200 million in February 2015. The deal was intended to add automation technology for SAP and Oracle modernization programs, reducing the manual testing effort in large package implementations. |
| Fluido | 2018 | $76.0M | Infosys acquired Fluido, a Nordic Salesforce consulting firm, for up to 65 million (approximately $76 million) in October 2018. The deal expanded Infosys' Salesforce practice into Northern Europe, adding local delivery presence in Finland, Denmark, Sweden, Norway, and Slovakia. |
| WongDoody | 2018 | $75.0M | Infosys acquired WongDoody, an US-based creative and digital experience agency, for approximately $75 million in 2018. The deal added creative design, brand strategy, consumer insights, and digital experience capabilities to Infosys' technology services portfolio. |
| GuideVision | 2020 | Undisclosed | Infosys acquired GuideVision, a European ServiceNow Elite Partner, in 2020 to strengthen its ServiceNow consulting, implementation, and managed services capabilities across Central and Eastern Europe. |
| Kaleidoscope Innovation | 2020 | $42.0M | Infosys acquired Kaleidoscope Innovation, an US-based product design and engineering firm, for approximately $42 million in 2020. The deal added upstream product design, medical device engineering, human factors research, and smart-product development capabilities. |
| BASE life science | 2022 | Undisclosed | Infosys acquired BASE life science, a European life sciences consulting firm, in 2022 to deepen its capabilities in pharmaceutical, biotech, and medical device consulting - covering regulatory affairs, quality management, clinical operations, and commercial transformation. |
| Oddity | 2022 | Undisclosed | Infosys acquired oddity, a German digital marketing and experience design agency, in 2022 to expand creative, commerce, and brand capabilities in Germany, broader Europe, and Northeast Asia. |
| InSemi Technology Services | 2024 | $33.7M | Infosys acquired InSemi Technology Services, a Bengaluru-based semiconductor design and embedded services provider, for 280 crore (approximately $33.7 million including earn-outs) in 2024. The deal strengthened Infosys' Engineering R&D capabilities in chip design, VLSI, embedded systems, and hardware-software co-design. |
| In-tech | 2024 | $485.0M | Infosys announced the acquisition of in-tech, a leading German engineering R&D services provider, for 450 million (approximately $485 million) in April 2024. In-tech specializes in software-defined vehicles, e-mobility, connected and autonomous driving, ADAS, rail systems, and smart industry solutions for German automotive OEMs. |
| Skava | 2015 | $120.0M | Infosys acquired Skava, an US-based mobile commerce platform company, for approximately $120 million in 2015. The deal was intended to strengthen digital commerce, mobile-first shopping experiences, and omnichannel retail technology capabilities. |
| MRE Consulting | 2025 | $36.0M | Infosys bought Houston-based MRE Consulting, a technology and business consultancy focused on energy trading and risk management, for up to about $36 million in cash. The deal closed on April 30, 2025. |
2025
$36M
Infosys bought Houston-based MRE Consulting, a technology and business consultancy focused on energy trading and risk management, for up to about $36 million in cash. The deal closed on April 30, 2025.
It added specialist trading and risk-management consultants and energy-sector client relationships in the US.
Too early to judge; it is a small capability purchase within Infosys's energy and utilities practice.
2024
$34M
Infosys acquired InSemi Technology Services, a Bengaluru-based semiconductor design and embedded services provider, for 280 crore (approximately $33.7 million including earn-outs) in 2024. The deal strengthened Infosys' Engineering R&D capabilities in chip design, VLSI, embedded systems, and hardware-software co-design.
InSemi added over 900 semiconductor design specialists serving clients in consumer electronics, automotive, industrial, and high-tech sectors. The acquisition positioned Infosys to capture demand from the global semiconductor supply chain diversification trend.
The acquisition was completed in May 2024 and strengthened a specialized engineering capability that is important as clients connect chips, devices, cloud platforms, and AI workloads in end-to-end systems.
2024
$485M
Infosys announced the acquisition of in-tech, a leading German engineering R&D services provider, for 450 million (approximately $485 million) in April 2024. In-tech specializes in software-defined vehicles, e-mobility, connected and autonomous driving, ADAS, rail systems, and smart industry solutions for German automotive OEMs.
In-tech brought approximately 2,200 engineers across Germany, Austria, China, the UK, Czech Republic, Romania, Spain, and India, along with deep relationships with German automotive manufacturers. It was Infosys' largest acquisition in years and signaled serious intent to compete in European engineering R&D.
The acquisition positions Infosys in the software-defined vehicle space - one of the fastest-growing segments in automotive technology - where domain expertise, local client relationships, and engineering depth matter more than offshore cost advantages.
2022
Infosys acquired BASE life science, a European life sciences consulting firm, in 2022 to deepen its capabilities in pharmaceutical, biotech, and medical device consulting - covering regulatory affairs, quality management, clinical operations, and commercial transformation.
BASE added domain specialists across Denmark, Switzerland, the UK, Germany, France, Italy, and Spain, giving Infosys local expertise in one of the most regulation-heavy industries.
The acquisition aligned with Infosys' vertical specialization strategy. Life sciences buyers value regulatory and process knowledge that cannot be easily replicated by generalist IT services firms.
2022
Infosys acquired oddity, a German digital marketing and experience design agency, in 2022 to expand creative, commerce, and brand capabilities in Germany, broader Europe, and Northeast Asia.
Oddity brought over 300 digital experience specialists and was integrated into the WongDoody network, creating a larger creative and commerce platform for Infosys.
The acquisition strengthened Infosys' experience design capability rather than creating a separate business line - consistent with the strategy of building a full-service digital transformation offering.
2020
$250M
Infosys acquired Simplus, an US-based Salesforce consulting and implementation firm, for approximately $250 million in March 2020. The deal was designed to strengthen Infosys' Salesforce ecosystem capabilities - particularly in quote-to-cash transformation, CPQ (Configure, Price, Quote), and cloud CRM implementation - while adding North American enterprise client relationships.
Simplus gave Infosys immediate credibility as a Salesforce implementation partner at a time when CRM transformation was becoming a board-level digital priority. The acquisition also served as a channel for cross-selling broader cloud, data, and managed-services work into Simplus' existing client base.
The acquisition achieved its strategic purpose by filling a platform-specialist gap in Infosys' portfolio. Combined with the earlier Fluido acquisition in Europe, it gave Infosys a global Salesforce practice that could compete with dedicated Salesforce partners.
2020
Infosys acquired GuideVision, a European ServiceNow Elite Partner, in 2020 to strengthen its ServiceNow consulting, implementation, and managed services capabilities across Central and Eastern Europe.
GuideVision added ServiceNow Elite Partner credentials, the proprietary SnowMirror data replication tool, and relationships with over 100 enterprise clients. It gave Infosys immediate credibility in the ServiceNow ecosystem.
The acquisition filled a clear platform capability gap. Its value is measured through cross-selling larger workflow transformation programs and winning ServiceNow-centric deals that Infosys could not have competed for previously.
2020
$42M
Infosys acquired Kaleidoscope Innovation, an US-based product design and engineering firm, for approximately $42 million in 2020. The deal added upstream product design, medical device engineering, human factors research, and smart-product development capabilities.
Kaleidoscope expanded Infosys' engineering services into physical product design and medical technology - areas where domain expertise and regulatory knowledge command premium pricing.
The acquisition supported Infosys' broader push into connected devices, medtech, and product innovation, complementing its software-focused services with hardware and industrial design capability.
2018
$76M
Infosys acquired Fluido, a Nordic Salesforce consulting firm, for up to 65 million (approximately $76 million) in October 2018. The deal expanded Infosys' Salesforce practice into Northern Europe, adding local delivery presence in Finland, Denmark, Sweden, Norway, and Slovakia.
Fluido strengthened Infosys' European Salesforce capabilities and provided local client relationships that would have taken years to build organically. Combined with the later Simplus acquisition, it created a global Salesforce practice.
coherent - Fluido gave Infosys credible local Salesforce delivery in Europe rather than relying solely on offshore execution for European clients.
2018
$75M
Infosys acquired WongDoody, an US-based creative and digital experience agency, for approximately $75 million in 2018. The deal added creative design, brand strategy, consumer insights, and digital experience capabilities to Infosys' technology services portfolio.
WongDoody allowed Infosys to reach marketing, customer experience, and digital product buyers - widening relationships beyond traditional CIO organizations into CMO and CDO budgets.
WongDoody became the nucleus of Infosys' experience design network, later absorbing oddity (acquired 2022) to create a broader creative and commerce capability across the US, Europe, and Asia.
2015
$200M
Infosys acquired Panaya, an Israel-based cloud company specializing in enterprise software testing and change impact analysis, for $200 million in February 2015. The deal was intended to add automation technology for SAP and Oracle modernization programs, reducing the manual testing effort in large package implementations.
While Panaya's technology was sound, the acquisition became the center of Infosys' most serious governance crisis. Whistleblower allegations in 2017 raised concerns about overpayment and due diligence failures. Founder Narayana Murthy publicly questioned the deal's valuation, triggering a conflict between founders and the board that led to then-CEO Vishal Sikka's resignation.
Independent investigations did not establish conclusive wrongdoing, but the reputational damage was significant. Infosys eventually divested Panaya in 2020. The episode remains a cautionary tale about how acquisition process and governance can matter as much as the acquired capability itself.
2015
$120M
Infosys acquired Skava, an US-based mobile commerce platform company, for approximately $120 million in 2015. The deal was intended to strengthen digital commerce, mobile-first shopping experiences, and omnichannel retail technology capabilities.
Skava helped Infosys compete for retailer and consumer-brand transformation work during the early shift from store-centric systems to digital and mobile commerce.
Skava did not remain a major standalone brand - its technology was integrated into Infosys' broader digital services portfolio. Its value was primarily in capability integration and retail-client relevance during a transitional period.
Infosys is positioning itself as an "AI-first" services firm. It reported AI-related revenue at 8.2% of Q1 FY2027 revenue and is using Topaz to automate delivery, which raises productivity but also lowers billable effort on legacy work. Growth now leans on large deals, which reached $14.9 billion in total contract value in FY2026 and $3.6 billion in Q1 FY2027, along with bolt-on acquisitions such as in-tech (automotive engineering, 2024) and MRE Consulting (energy trading, 2025).
Infosys earns most of its money from multi-year service contracts with large enterprises, billed on time-and-materials or fixed-price terms. Work spans application development and maintenance, cloud and infrastructure management (Infosys Cobalt), enterprise AI services (Infosys Topaz), engineering R&D, and business process management. A smaller product line, led by the Finacle core-banking suite from subsidiary EdgeVerve, adds licence and subscription revenue. Over 97% of revenue comes from clients outside India, and financial services is the largest industry segment.
In April 2024, Infosys acquired in-tech for €450 million ($480M USD), adding 2,200 automotive engineers in Germany, Austria, and Romania to lead software-defined vehicles, electric powertrains, and rail mobility systems.
In January 2024, Infosys acquired InSemi, a premier semiconductor design and embedded engineering firm with 900+ engineers, bolstering Infosys's chip design, verification, and custom silicon capabilities for AI and automotive clients.
In 2020, Infosys acquired GuideVision, a leading enterprise ServiceNow Elite partner in Europe, strengthening its digital workflow automation, IT service management (ITSM), and European consulting presence.
Infosys acquired Finnish Salesforce consultancy Fluido for ~$73.5 million (€65 million) in 2018 and US cloud consulting leader Simplus for $250 million in 2020, creating one of the largest Salesforce platinum consulting practices in the world.
In 2018, Infosys acquired US creative digital agency WongDoody for $75 million (subsequently integrating London-based Brilliant Basics and Oddity in Germany), establishing a global digital experience, branding, and UX design studio.
In 2012, Infosys acquired Swiss management and SAP consulting firm Lodestone for $350 million (CHF 330M), significantly boosting its European management consulting and high-margin enterprise software capabilities.
In 2015, Infosys acquired Israeli automation testing software maker Panaya for $200 million and digital commerce platform Skava for $120 million, integrating automated code testing and mobile commerce into its core suite.
Infosys targets bolt-on acquisitions with revenue run-rates between $50M and $500M in high-growth digital domains: Engineering R&D (automotive/aerospace), Generative AI platforms, Cloud ecosystem consultancies, and European market expansions.
Historically, Infosys avoided massive acquisitions, preferring organic growth. In 2012, they bought Lodestone for $350 million to dominate European SAP consulting. However, their 2015 acquisition of Panaya for $200 million caused a massive scandal. An anonymous whistleblower alleged executives received kickbacks, leading to a brutal, highly public battle between the founders and the CEO, forcing Vishal Sikka to resign.
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