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Monday, February 26 2024

Infosys arm buys Salesforce advisor Fluido for $76 mn

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inf mainBengaluru: Global software major Infosys on Friday said its consulting arm acquired Fluido Oy, a leading Salesforce advisor and consulting firm in Finland, for $76 million to help its clients in digital transformation.

“The acquisition of Fluido by our subsidiary (Infosys Consulting Pte Ltd) will help our clients navigate into digital transformation and strengthen our position as a leading Salesforce enterprise cloud service provider,” said the city-based IT major in a statement here.

Though the company did not disclose the acquisition cost in its release, it mentioned in a regulatory filing on the BSE that “100 per cent of Fluido’s shares have been acquired in cash for Euro 65 million”, which translates to $75.8 million (Rs 546 crore).

“Fluido is majority-owned by the management team and CapMan private equity, with Salesforce Ventures having a minority stake,” added the filing.

The US-based American cloud computing firm Salesforce offers customer relationship management and sells applications of social networking.

As Salesforce consulting and training delivery partner in Europe and in the Nordics region, Fluido will give Infosys expertise and an agile delivery process to simplify and scale digital efforts across channels of its clients.

“The acquisition demonstrates our commitment to the Salesforce ecosystem to address our client’s digital priorities. Fluido brings market presence, salesforce expertise, agile delivery and training to our capabilities, which will help our clients reimagine and transform their businesses,” said Infosys President Ravi Kumar in the statement.

The buyout also aligns Infosys’ efforts to invest in local capabilities in the regions it operates in, in Europe.

With offices in Denmark, Finland, Norway, Slovakia and Sweden, the Espoo-based Fluido elevates Infosys’ presence across the Nordics region with assets and client relationships, a team and local culture.

Fluido customers are represented across verticals, including manufacturing, energy, retail and telecom and to whom it delivers services spanning strategy, consulting, implementation and training.

“With Infosys, we will be able to provide global scalable services to our customers. With digital experience playing a key role in customer success, we will have an opportunity to help our clients change the way they connect with their customers,” said Fluido founder and Chief Executive Kai Makela.

The acquisition is expected to close during the third quarter of fiscal 2019.

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