TCS and Cognizant have joined Infosys in the race to take over Swiss firm Lodestone Management Consultants, a management and technology consulting firm.
Source close to the development have verified that the three IT giants have reverted to the invitations to the bids sent by the Zurich-based company. With this move, the three have begun competing to acquire a company for the first time.
The three companies seek Lodestone's consulting portfolio as it would give them an edge over others in rendering higher-value services. An expert has said large IT solution providers from India are behind multinational companies like IBM and Accenture when it comes to higher-value service offerings like consulting. He said that the takeover would surely fetch higher billing rates to the company.
However, the Indian companies would have to make an effort to raise the profit levels of Lodestone, since its operating margin is in the range of low double digits.
Lodestone Management Consultants, headquartered in Zurich, is a global consulting firm advising international companies on strategy and process optimization as well as IT transformation. With a value-integration approach, Lodestone pursues a value-adding combination of management and IT consulting. Founded in 2005, the firm has grown to more than 800 employees in 17 countries on five continents. Lodestone’s advisory services are primarily geared to the life science, chemical and financial services industries as well as the investment, automotive and consumer goods sectors.
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