Infosys closes Fluido acquisition deal worth Rs 545 crore
PTI October 13, 2018
India's second largest IT services firm Infosys said on Saturday it has completed the acquisition of Finland-based company Fluido.
In September, Infosys had said it will acquire Fluido in a deal worth up to 65 million euros (over Rs 545 crore), including earn-out, management incentives and bonuses.
Through this acquisition, Infosys strengthens its position as a leading Salesforce enterprise cloud services provider, and enhances its ability to provide clients with 'cloud-first' transformation, it said in a regulatory filing on Saturday.
"With offices in Finland, Denmark, Sweden, Norway and Slovakia, Fluido elevates Infosys' presence across the Nordics region with developed assets and deep client relationships, a great team and an effective local culture," it added.
Fluido customers are represented across industries, such as manufacturing, energy, retail and telecommunications sector, it noted.
"Fluido brings to Infosys globally recognised Salesforce expertise, alongside a world-class agile delivery process that simultaneously simplifies and scales digital efforts across channels and touch points," the statement said.
Founded in 2010, Fluido is one of the largest Salesforce (software company) consulting partners in Europe. It was majority-owned by its management team and CapMan private equity with Salesforce having a minority stake.