Infosys buys Germany-based digital marketing agency Oddity for $50 million

India’s second-largest software services company, Infosys, announced on Tuesday that it has acquired Oddity, a Germany-based digital experience marketing agency for cash consideration of up to 50 million euros.

This decision strengthens Infosys’ creative, branding and experience design capabilities, and demonstrates its continued commitment to co-creating with its customers and helping them navigate their digital transformation journey.

With over 300 digital experts located in Stuttgart, Berlin, Cologne, Belgrade, Shanghai and Taipei, Oddity is one of Germany’s largest independent digital agencies.

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Enabling the digital transformation of leading German omnichannel retailers, e-commerce, major FMCG brands and global mobility providers, Oddity has a comprehensive service portfolio including digital-first brand management and communication, in-house production, including including virtual and augmented reality, discover design and e-commerce services across Europe and China.

With Infosys’ earlier acquisition of WONGDOODY, which offers creative and marketing services, oddity will help global CMOs and enterprises thrive in a digital commerce world with complementary skills and expertise.

As part of Infosys’ digital experience and design offering, oddity will become part of WONGDOODY, an Infosys company, and join its network of studios in Seattle, Los Angeles, New York, Providence, Houston and London, and design centers in five cities. in India.

Ravi Kumar S, President of Infosys, said, “We stand at the dawn of the next generation of the Internet, the merging of the physical and virtual worlds. With this vision, we are excited to strengthen our experience and skills in marketing with quirkiness. , to provide holistic, forward-thinking solutions globally. With oddity’s knowledge of digital commerce and marketing as well as its metaverse-ready setup, it’s the perfect complement to Infosys’ prowess in technology transformation.

“The future of better human-centered marketing lies in the symbiosis of creativity and technology (data, automation, AI). This is where we see the opportunity for a unique differentiation with Infosys and WONGDOODY. We are ambitious to further develop our services jointly and are proud to be part of one of the world’s most respected digital technology companies,” said Oddity Founders Frank Boegner, Marc Bürkle, Simon Umbreit and Christian Gölz.

Ben Wiener, CEO of WONGDOODY, an Infosys company, added, “Meeting oddities was like meeting a long-lost twin. We share the same values ​​and the same vision around the power of creativity to accelerate the digital transformation of our customers, while recognizing that it is our people and our culture that are the engine of our success.

We are united in our shared belief that digital transformation is at its best when it is consistently approached from a people-centric and needs-centered perspective.”

The acquisition is expected to close in the first quarter of fiscal 2023 (April 2022), subject to customary closing conditions.

(Edited by : Jomy Jos Pullokaran)

First post: STI