Infosys Ltd, which is the second-largest software services exporter, said on Friday it has agreed to acquire Finnish company Fluido for €65 million which is around $76 million in US currency to strengthen its enterprise cloud capabilities and with a nw presence in European countries as well. The deal value has been agreed to be an earn-out, management incentives and bonuses, Infosys said in a statement.
Fluido is majority-owned by its management team and CapMan private equity, with Salesforce Ventures having some of the majority stake.
Infosys said Fluido is an important Salesforce consulting partner which is more in the field of Nordics and also a leader in cloud consulting, implementation and training services. The acquisition strengthens Infosys’ position as a leading Salesforce enterprise cloud services provider and enhances its ability to provide clients cloud-first transformation, the Indian company said.
Espoo, Finland-based Fluido was founded in the year 2010 and which has its presence in Denmark, Sweden, Norway and Slovakia. It has customers across different set of industries which includes the manufacturing, energy, retail and telecommunications.
“This acquisition demonstrates Infosys’ commitment to the Salesforce ecosystem to address our client’s digital priorities,” said Ravi Kumar, president and deputy chief operating officer at Infosys.
Kumar said Fluido brings “a unique combination” of market presence, deep Salesforce expertise, agile delivery and training. “This acquisition also aligns to our efforts to invest in local capabilities in the regions in which we operate,” he said.
The deal within both the companies is going to be closes by the October-December quarter, subject to customary closing conditions and other realistic things.
This is the IT major’s second buyout this year. In April, the firm announced the acquisition of US-based consultancy company WongDoody for a cost of $75 million to increase and build its creative, branding and customer experience capabilities among the people as one of the leading sector in this. Infosys is currently in the process of seeking buyers for three of its subsidiaries.