Infosys completes Skava acquisition for $120 mn

Indian IT services provider Infosys on Thursday announced it has completed the acquisition of digital experience solutions provider Skava for $120 million.

“Infosys today (Thursday) completed the acquisition of Kallidus Inc. (doing business as Skava) and its affiliate, a leading provider of digital experience solutions, including mobile commerce and in-store shopping experiences to large retail clients,” said Infosys in a press release.

“The acquisition is in accordance with the terms set out in the agreement announced on April 24, 2015,” it added.

It was an all-cash deal which included retention bonus and deferred component. The aggregate purchase consideration was $120 million and Infosys was advised on the transaction by Deutsche Bank.

“The acquisition of Skava is part of Infosys’ strategy to help clients bring new digital experiences to their customers through IP-led technology offerings, new automation tools and unparalleled skill and expertise in these new emerging areas,” the release added.

Skava’s solutions include developing and hosting mobile websites, apps and other digital shopping experiences across desktop, tablet, mobile, in-store and emerging channels.

Founded by Arish Ali and Sudha K.V., it has offices in Atlanta, New York, London and Coimbatore.

Infosys, which has adopted an aggressive acquisition strategy after Vishal Sikka became CEO, has also acquired Israeli automation solutions startup Panaya for $200 million.