Pune: Indore based InfoBeans Technologies said it would acquire New York-based Philosophie Group in an all cash deal.
Philosophie Group is a niche design and UX consulting firm that has worked with companies like Google, Amazon, American Express and UCLA.
Avinash Sethi, Co-founder, InfoBeans Technologies said, “Philosphie’s design and prototyping abilities complements enterprise application development capabilities of InfoBeans. This union will enable the combined entity to provide a much wider spectrum of services to our clients. This acquisition will also help us in achieving our shared dream of making InfoBeans Technologies Ltd a global entity besides adding specialised skills.”
This puts InfoBeans at par with medium and large tier IT companies on per person revenue, he added. Philosophie has a diverse team of designers, engineers, and product strategists.
InfoBeans is a global software services company with 850 employees across the US, Germany, UAE and India.
Philosophie Group is a niche design and UX consulting firm that has worked with companies like Google, Amazon, American Express and UCLA.
Details of the deal were not disclosed, but the company said that Philosophie is expected to clock $10 million in annual revenue this year. Following the integration, InfoBeans will become a $28-30 million company. This deal will give InfoBeans greater access to the US market and to these brands, it said in a press release.
Avinash Sethi, Co-founder, InfoBeans Technologies said, “Philosphie’s design and prototyping abilities complements enterprise application development capabilities of InfoBeans. This union will enable the combined entity to provide a much wider spectrum of services to our clients. This acquisition will also help us in achieving our shared dream of making InfoBeans Technologies Ltd a global entity besides adding specialised skills.”
This puts InfoBeans at par with medium and large tier IT companies on per person revenue, he added. Philosophie has a diverse team of designers, engineers, and product strategists.
InfoBeans is a global software services company with 850 employees across the US, Germany, UAE and India.
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