Infosys Completes Acquisition of Blue Acorn iCi, a Leading Adobe, Salesforce Commerce & Shopify Partner, from Beringer Capital

NEW YORK, Oct. 28, 2020 /PRNewswire/ -- BERINGER CAPITAL (https://www.beringercapital.com), a New York and Toronto-based private equity firm, announced today the completion of the acquisition of award-winning customer experience (CX), commerce and analytics company, Blue Acorn iCi, by Infosys (NYSE: INFY) for $125 million.

Blue Acorn iCi was among the first companies to earn specializations in both Adobe Experience Manager and Magento Commerce, and gained further recognition as both the Adobe Emerging Solution Partner of the Year for the Americas and Salesforce Commerce Partner of the Year.  With this acquisition, Infosys is deepening its end-to-end customer experience offerings and specializations in commerce and analytics.

"It has been a privilege to work closely with the Blue Acorn iCi team in partnership to quickly build one of the leading digital customer experience companies in North America," said Brian F. Martin, Vice Chairman and Managing Partner at Beringer Capital. "Through key investments in leadership, customer success, revenue generation and new products, Blue Acorn iCi has grown to become a driving force in helping enterprises digitally transform. By seamlessly connecting CX, commerce, analytics, and direct-to-consumer (DTC) services, the team has reimagined digital transformation, and we are confident that Blue Acorn iCi has found an outstanding home with Infosys."

Over the past three years, Blue Acorn iCi has undergone a period of rapid growth and transformation. Working alongside Beringer Capital, the award-winning team has been successful in identifying and developing new strategic partnerships and alliances in the CX, commerce and analytics ecosystems.

"By working closely with Beringer Capital, we were able to focus the growth of the entire organization on the right things: people, process, and platforms," said Greg Boone Co-CEO of Blue Acorn iCi. "Beringer has always been more of a partner than a parent, and under their close stewardship, we were able to position ourselves to add significant value to our clients and partners." 

Chris Guerra, Co-CEO of Blue Acorn iCi shared that, "Beringer provides a 360-degree approach to helping entrepreneurs maximize their business and take it to the next level. We would not be where we are today without the 24/7 dedication and support." 

As one of the top Magento Commerce-certified partners worldwide, Blue Acorn iCi will provide Infosys with significant cross-technology capabilities through the convergence of customer experience, digital commerce, analytics, and direct-to-consumer services.

"Blue Acorn iCi has built a robust practice and proven their expertise across Adobe Experience Cloud," said Tony Sanders, Senior Director, Americas Partner Sales, Adobe. "The team is creative, committed and collaborative, and together with Infosys, we look forward to building on this remarkable momentum."

Investment Bank CG Petsky Prunier, part of Canaccord Genuity, advised Blue Acorn iCi on the transaction.

About Beringer Capital
Beringer Capital is a leading private equity firm that invests in technology-led companies that serve leading brands. Beringer Capital partners with founders and management teams to build significant businesses through a combination of organic growth and add-on acquisitions.

For more information, please visit www.beringercapital.com. 

About Blue Acorn iCi
Born from the minds of engineers, data scientists, digital commerce experts, designers, and strategists, Blue Acorn iCi is the leading independent digital customer experience company. We work with executives responsible for the growth of Fortune 500 brands (and those who aspire to enter the Fortune 500!) who want to get more out of their digital customer experience. Through the strategic fusion of content management, commerce & analytics, our teams solve problems and deliver results leveraging our deep expertise in strategy, experience design, engineering and DTC services. For more information please visit www.blueacornici.com. 

About Infosys
Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

SOURCE Beringer Capital

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