Indian IT giant Infosys acquired London-based product design and customer experience innovator Brilliant Basics on Monday in a bid to expand its operations and tap more global clients for its digital studio products, amid ongoing disputes spurred by former chief executive Vishal Sikka's exit last month.
The acquisition will help the Infosys digital design services networks targeting European and Middle East clients and expand its worldwide connected network of Digital Studios which addresses the global markets for electronic solutions, the company said.
The IT major acquired the global product design studio company in an all cash deal with approximately 7.5 million pounds which is about Rs 63 crore.
Earlier, Brilliant Basics had partnered with Infosys on various projects. The company specialises in service design, user experience and technology and had also worked with financial services firms such as HSBC, CBI Bank and National Bank of Abu Dhabi.
It has offices in London and Dubai while Infosys has several Digital Studios overseas including Bengaluru, Pune, New York and London.
Infosys's $200-million acquisition of Israeli technology firm Panaya in 2015 had set off a slew of controversies following an anonymous whistle-blower claiming in February this year that the deal was overvalued. Other issues included an allegedly excessive severance settlement paid out to an exiting CFO being linked with the acquisition by co-founder N R Narayana Murthy.
The open public dispute over the issue between the company's board -- which claimed that the deal was clean and complied with all corporate governance standards -- and the co-founders and their supporters, eventually led CEO and MD Vishal Sikka to quit in disgust.
Narayana Murthy, whom the company board blamed for resignation of Sikka, had repeatedly asked Infosys to make public the full reports of its investigation into the Panaya deal and high severance packages to top employees. The question of whether to comply or reject Murthy's request for a full disclosure is presently under discussion at the company.
