INDIAN IT giant Infosys has announced that it will acquire Simplus in a deal worth up to $250 million (£193m).
Simplus is a leading salesforce consulting and advisory firm in the US and Australia.
The acquisition is expected to close during the fourth quarter of the financial year 2020.
The deal size is “$200 million, including contingent consideration to be paid for the acquisition of shares subject to closing adjustments”, the Bengaluru-based business said in an exchange filing.
Simplus is a leader and advisor in cloud consulting, implementation, data integration, change management and training services for salesforce quote-to-cash applications.
This acquisition, coupled with the acquisition of Fluido announced in 2018, further boosts Infosys’ position as an end-to-end salesforce enterprise cloud solutions and services provider, offering clients unparalleled capabilities for cloud-first digital transformation, the Indian IT giant said in a release.
Simplus brings to Infosys salesforce expertise, industry knowledge, solution assets, deep ecosystem relationships and a broad clientele, across a variety of industries, including high-tech, financial services, retail, healthcare, life sciences and manufacturing.
It has offices across North America, Sydney, Melbourne, London, and a large delivery center in Manila.
Ravi Kumar, president, Infosys, said: "Simplus will be a valuable addition to the Infosys family. Complementing our industry knowledge and existing salesforce footprint with their strong presence in key markets, deep salesforce consulting and advisory expertise will help accelerate the transformation journey of incumbent companies. With this strong addition to our portfolio, we look forward to unlocking additional value for our clients."
Isaac Westwood, COO , co-founder, Simplus, said: “Infosys has incredible global scale and breadth, and joining forces gives us a powerful value proposition to enable global digital transformations.”
Shein’s UK sales hit £2.05bn in 2024, up 32.3 per cent year-on-year, driven by younger shoppers.
The retailer benefits from import tax loopholes unavailable to high street rivals.
Faces mounting criticism over labour practices and sustainability as it eyes a London listing.
Tax edge drives growth
Chinese fashion giant Shein is transforming Britain’s online clothing market, capturing a third of women aged 16 to 24 while benefiting from tax breaks unavailable to high street rivals.
The fast-fashion retailer’s UK sales surged 32.3 per cent to £2.05bn in 2024, according to company filings, with pre-tax profits rising to £38.3m from £24.4m the previous year. The growth comes as established players like Asos struggle in an increasingly competitive landscape where young consumers prioritise value above all else.
Shein has partly benefited from a tax break on import duty for goods worth less than £135 sent directly to consumers, The rule lets overseas sellers send low-value goods to the UK tax-free, disadvantaging local businesses.
“The growth of Shein and Temu is a huge factor,” said Tamara Sender Ceron, associate director of fashion retail research at Mintel told The Guardian. “It is particularly successful among younger shoppers. It is also a threat to other fashion retailers such as Primark and H&M because of its ultra-low price model that nobody can compete with. It’s changed the market.
"The market dynamics reflect broader shifts in consumer behaviour. Online fashion sales reached £34bn last year, up 3 per cent, according to Mintel, but shoppers have become more cautious as disposable incomes shrink, and fashion competes with holidays, festivals, and streaming services for wallet share.
Scrutiny builds
Despite its commercial success, Shein faces mounting scrutiny. The company filed initial paperwork last June for a potential London Stock Exchange listing, but critics question its labour practices and environmental impact.
"Regardless of whether Shein gets listed on the London Stock Exchange, no company doing business in the UK should be allowed to play fast and loose with human rights anywhere in their global supply chains,” said Peter Frankental, economic affairs programme director at Amnesty International UK to BBC.
The “de minimis” rule has drawn renewed attention after US President Donald Trump scrapped a similar measure during his trade war with China.
Shein’s UK operation now employs 91 people across offices in Kings Cross and Manchester, focusing primarily on local market expertise.
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