Terms of the deal were not disclosed, but there are reports that estimate the deal could be worth upwards of 30 million euros or US$35.6 million.
This is M&A deal 368 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.
GuideVision is an enterprise service management consultancy with a specialty in strategic advisory, consulting, implementations, training, and support on the ServiceNow platform. With this acquisition, Infosys will be able to provide access to training centers around Europe as well as a proprietary ServiceNow distribution platform in the region.
The deal also bolsters the Infosys’ enterprise solutions portfolio, according to the company.
GuideVision has over 240 employees working at six locations across Europe, including Czech Republic, Hungary, Poland, Germany, and Finland.
Infosys Acquires GuideVision: Executive Insight
Ravi Kumar, president, Infosys, commented:
"This acquisition is an important milestone in our journey to build capabilities relevant to the digital priorities of our clients. This move reaffirms our commitment to the growing ServiceNow ecosystem. The combination of scalable and agile nearshore capabilities of GuideVision in Europe, and their unmatched delivery excellence, complements our own effort to help global enterprises navigate their next. We are excited to welcome GuideVision and its leadership team into the Infosys family."
Norbert Nagy, co-founder, GuideVision, added:
"GuideVision's exceptionally high customer ratings are the result of our continuous effort to deliver superior consulting and implementation services. Joining Infosys brings an extended portfolio of services we can offer to our customers on their digital transformation journey. The global Infosys footprint is an exciting opportunity for both GuideVision customers and employees."
Pavel Muller, co-founder, GuideVision, added:
"We are happy to become a part of the Infosys family and we strongly believe that the shared underlying values are a great foundation for our common goals in the future. Our combined expertise will further drive our customers' digital transformation in the European market."
Companies working within the ServiceNow ecosystem remain attractive targets for M&A deals.
Deals have generally been spurred by a fast-growth market coupled with a shortage of skilled ServiceNow experts.
ChannelE2E has compiled a list of M&A plays involving ServiceNow businesses, which you can see here.