Osborne Clarke and in particular the firm's India Group, which is well known in the market, has advised the globally operating Indian tech company Infosys on the acquisition of the German based digital agency Oddity. The purchase price for all shares in the six German Oddity companies is up to EUR 50 million.
Oddity is internationally positioned with a total of around 300 employees and operates offices in Stuttgart, Berlin, Cologne, Belgrade, Shanghai and Taipei, from where it supports advertisers in digital transformation tasks. Oddity is to be integrated with US digital agency Wongdoody, which was bought by Infosys in 2018, and shall become part of its international network.
Explaining the acquisition, Ravi Kumar S., President of Infosys, says:
Today, we are on the cusp of a new generation internet, the merging of the physical and virtual worlds. That's why we value adding Oddity's strength to provide forward-thinking, holistic digital solutions internationally. With Oddity's expertise in digital commerce and marketing, as well as its set-up for the Metaverse, we can perfectly complement Infosys' transformational know-how.
The Osborne Clarke team advising Infosys on the acquisition, led by Rouven Siegemund (Corporate/M&A), comprised Rudolf Hübner, Fabian Mimberg and Fenja Striesow (all Corporate/M&A), Ulrich Bäumer, Anne Leßner and Felix Hänel (all IT/Data Protection), Dr Timo Karsten, Hannah-Maria Merkle, Niels Wiehmann, Johanna Reiland and Konstantin Axnick (all Employment), Thomas Schnabel and Laura-Sophie Schroers (Real Estate), Christoph Boeminghaus and Gunnar Jommersbach (both Commercial), Laura Klein (IP), Dr Jens Wrede (Tax) as well as Dr Sebastian Hack, Marco Aatz and Yannick Schmitter (all Merger Control).
Rouven Siegemund, lawyer and partner at Osborne Clarke: "Advising our long-standing client Infosys on this important M&A transaction in Germany is another milestone of our work for Indian clients on transactions in Europe. And it is at the same time the result of the intensive cooperation with the international Osborne Clarke offices, in which Infosys has already been advised for some time – among other things in the transaction business".