The cost of the acquisition - which is expected to close during the third quarter of FY 2021, subject to customary closing conditions - is "up to $125 million including management incentives and bonuses", Infosys said in a regulatory filing. The acquisition is being undertaken by Infosys Nova Holdings, LLC, a wholly-owned subsidiary of Infosys. Blue Acorn iCi group is owned by Beringer Capital, company management and previous owners. The company is headquartered in Charleston, USA, and has presence across the US. Its revenue in 2019 was at $43.6 million. With services that include strategy, analytics, design, and engineering, Blue Acorn iCi works with brands across industries from media, consumer goods and retail, financial Services, manufacturing and technology.