The acquisition of the digital marketing, experience, and commerce agency by Infosys will strengthen the company’s creative, branding, and experience design capabilities, according to the company.
Infosys announced on Tuesday that it has signed a definitive agreement to acquire the digital marketing, experience, and commerce agency oddity in Germany for up to 50 million euros.
The acquisition, according to Infosys, will strengthen its creative, branding, and experience design capabilities. The acquisition is expected to close in the first quarter of fiscal 2023, subject to customary closing conditions.
To complete the transaction, Infosys will also acquire Kristall 247. Kristall 247. GmbH, founded in 2021 and headquartered in Cologne, Germany, has no operations.
The acquisition cost for oddity will be up to 50 million euros, including earn-out, management incentives, and bonuses, while the cost for Kristall 247 will be 3,000 euros.
“With over 300 digital experts in Stuttgart, Berlin, Cologne, Belgrade, Shanghai, and Taipei, oddity is one of Germany’s largest independent digital agencies,” Infosys said in a statement.
Oddity, which enables digital transformation for leading German omni-channel and e-commerce retailers, leading FMCG brands, and global mobility providers, has a comprehensive service portfolio that includes digital-first brand management and communication, in-house production, including virtual and augmented reality, experience design, and e-commerce services across Europe and China, according to the company.
“As part of Infosys’ digital experience and design offering, oddity will join WONGDOODY, an Infosys company, and its network of studios across Seattle, Los Angeles, New York, Providence, Houston, and London, as well as design hubs in five cities in India,” the company said.
“With oddity’s digital commerce and marketing expertise, as well as its metaverse-ready setup,” Infosys President Ravi Kumar S said of the acquisition.
“The future of better human-centered marketing lies in the symbiosis of creativity and technology,” oddity founders Frank Boegner, Marc Bürkle, Simon Umbreit, and Christian Gölz said in a statement (data, automation, AI). This is where we see an opportunity for a distinct differentiation in collaboration with Infosys and others.
