Indore based InfoBeans Technologies Limited has announced acquisition of New York based Philosophie Group Inc, a new age firm known for its very rapid innovation and design, in an all-cash deal. It has worked with over 230 clients including Google, Amazon, American Express, UCLA, Royal Caribbean Cruises, Fight Club, Nintendo, etc. The deal underscores many strategic advantages to InfoBeans Technologies Limited including greater access to the US market and world known brands. Philosophie is expected to clock $10 million annual revenue this year. Post its integration, this will make InfoBeans Technologies a $28-30 million company with significantly higher revenue per team member.
Philosophie is a niche design and UX consulting firm known for its rapid prototyping and innovation consulting capabilities. It is over 10 year old organization, based in the USA, founded by Skot Carruth and Emerson Taymor. Philosophie provides high end innovation and UX consulting. They serve clients as large as Google, Amazon, American Express and start-ups like Yapstone, amongst many others. Philosphie has a diverse team of designers, engineers, and product strategists
The deal puts InfoBeans at par with medium and large tier IT companies on per person revenue. Said Avinash Sethi, Co-founder, InfoBeans Technologies Limited, “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 Limited a global entity besides adding specialised skills.”
