Infosys Singapore Pte. Ltd entered into an definitive agreement to acquire in-tech Holding GmbH from DBAG Fund VIII, a fund managed by Deutsche Beteiligungs AG (XTRA:DBAN) and others for approximately ?450 million on April 18, 2024. The consideration consists of ?450 million, includes upfront and earnouts, excluding management incentives, and retention bonus.

The transaction is subject to approvals from regulatory authorities in Germany, Romania, Austria, India and such other regulatory approvals as may be required. The acquisition of in-tech is expected to close during first half of fiscal year 2025, subject to customary closing conditions. Dominik Stühler, Kai Terstiege, Carina Klaes-Staudt and Christian Böhme of Dechert LLP acted as legal advisor to the funds advised by Deutsche Beteiligungs AG.