![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Monday, April 27, 2015 6:09:34 PM
E-commerce tech firm Skava acquired by Infosys for $120 million
Apr 27, 2015, 11:10am PDT
“We built out the technology and seeing it succeed is what has kept us going,” said Skava co-founder Arish Ali in the company's San Francisco office. The firm has agreed to be acquired by Infosys for $120 million.
Skava, a San Francisco e-commerce tech provider focused on mobile and in-store platforms for big-box retailers, has agreed to be acquired along with an affiliate by the Indian tech services giant Infosys (NYSE: INFY) for $120 million.
Co-founded in 2002 by CEO Arish Ali and Sudha Varadarajan, Skava never took any outside money. It began as a gaming company, but made a fortuitous pivot in 2008 to help big companies like Staples, Toys R Us and Gap make more money from their websites and other digital outlets, like mobile and in-store kiosks.
Last year the company had 270 employees and boasted of 2013 revenue of $22 million, up from $1.2 million in 2009.
Skava, which also goes by the name Kallidus Inc., found an eager reception for its expertise with mobile technologies, personalization of customer appeals and analytics. Business boomed by more than 300 percent from 2010 to 2012 alone, and the company's staff ballooned by 628 percent over a two year period, with most of the growth in India.
The all-cash deal includes retention bonus and a deferred component, Bangalore-based Infosys said in a filing with the Securities and Exchange Commission.
Infosys is a technology consulting and outsourcing company that operates in more than 50 countries. It employs 176,000 people and $8.7 billion in annual revenue.
Patrick covers technology.
Related links: Mobile, Funding
Industries: Retailing & Restaurants, Technology, Media & Marketing
Recent INFY News
- Delaware Department of Labor Selects Infosys Public Services to Modernize its Labor Systems • PR Newswire (Canada) • 07/11/2024 12:24:00 PM
- Delaware Department of Labor Selects Infosys Public Services to Modernize its Labor Systems • PR Newswire (US) • 07/11/2024 12:24:00 PM
- Infosys Collaborates with Sector Alarm to Fuel Growth through Cloud-based Microsoft Dynamics ERP • PR Newswire (US) • 07/09/2024 10:22:00 AM
- Infosys Collaborates with Sector Alarm to Fuel Growth through Cloud-based Microsoft Dynamics ERP • PR Newswire (US) • 07/09/2024 10:19:00 AM
- Infosys Collaborates with Sector Alarm to Fuel Growth through Cloud-based Microsoft Dynamics ERP • PR Newswire (Canada) • 07/09/2024 10:19:00 AM
- Infosys BPM opens second office in Aguadilla; Brings new jobs to the Island • PR Newswire (Canada) • 06/27/2024 05:16:00 PM
- Infosys BPM opens second office in Aguadilla; Brings new jobs to the Island • PR Newswire (US) • 06/27/2024 05:16:00 PM
- Interactive Brokers Loses $48 Million on NYSE, Amazon Achieves Historic Market Value, and More News • IH Market News • 06/27/2024 11:13:41 AM
- Infosys to Ring The Opening Bell® at the New York Stock Exchange • PR Newswire (Canada) • 06/20/2024 01:42:00 PM
- Infosys to Ring The Opening Bell® at the New York Stock Exchange • PR Newswire (US) • 06/20/2024 01:42:00 PM
- Launched today: Infosys Aster™ - The AI-amplified marketing suite that delivers engaging brand experiences, enhanced marketing efficiency, and accelerated business growth • PR Newswire (US) • 06/18/2024 10:06:00 AM
- Launched today: Infosys Aster™ - The AI-amplified marketing suite that delivers engaging brand experiences, enhanced marketing efficiency, and accelerated business growth • PR Newswire (Canada) • 06/18/2024 10:05:00 AM
- Launched today: Infosys Aster™ - The AI-amplified marketing suite that delivers engaging brand experiences, enhanced marketing efficiency, and accelerated business growth • PR Newswire (US) • 06/18/2024 10:05:00 AM
- Infosys a Top 100 most valuable brand in the world by Kantar BrandZ; Ranked among the most-trusted brands in India and the US • PR Newswire (US) • 06/12/2024 09:09:00 AM
- Infosys a Top 100 most valuable brand in the world by Kantar BrandZ; Ranked among the most-trusted brands in India and the US • PR Newswire (Canada) • 06/12/2024 09:08:00 AM
- Infosys a Top 100 most valuable brand in the world by Kantar BrandZ; Ranked among the most-trusted brands in India and the US • PR Newswire (US) • 06/12/2024 09:08:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/04/2024 01:14:00 PM
- Game, Set, AI: Infosys Brings Advanced AI-led Innovations to Roland-Garros 2024 • PR Newswire (US) • 05/29/2024 10:16:00 AM
- Game, Set, AI: Infosys Brings Advanced AI-led Innovations to Roland-Garros 2024 • PR Newswire (Canada) • 05/29/2024 10:14:00 AM
- Game, Set, AI: Infosys Brings Advanced AI-led Innovations to Roland-Garros 2024 • PR Newswire (US) • 05/29/2024 10:14:00 AM
- Infosys Collaborates with Commerzbank to Transform its Trading Ecosystem • PR Newswire (US) • 05/28/2024 10:09:00 AM
- Infosys Collaborates with Commerzbank to Transform its Trading Ecosystem • PR Newswire (US) • 05/28/2024 10:07:00 AM
- Infosys Collaborates with Telstra for AI-led Engineering Transformation • PR Newswire (US) • 05/16/2024 02:33:00 PM
- Infosys Collaborates with Telstra for AI-led Engineering Transformation • PR Newswire (US) • 05/16/2024 02:30:00 PM
- Infosys Collaborates with Telstra for AI-led Engineering Transformation • PR Newswire (Canada) • 05/16/2024 02:30:00 PM
FEATURED Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • Jul 17, 2024 1:00 PM
Kona Gold Beverages Reaches Out to Largest Debt Holder for Debt Purchase Negotiation • KGKG • Jul 17, 2024 9:00 AM
Avant Technologies Welcomes Back Former CEO with Eye Toward Future Growth and Expansion • AVAI • Jul 17, 2024 8:00 AM
HealthLynked Expands Telemedicine Nationwide • HLYK • Jul 17, 2024 8:00 AM
Peer To Peer Network aka Mobicard™ Launches AI Investor Chatbot Boosting Engagement & Lead Generation on Ihub • PTOP • Jul 15, 2024 8:30 AM
Greenlite Ventures Announces AI Integration into No Limit Platforms • GRNL • Jul 15, 2024 8:00 AM