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Finland's Fluido Oy acquired by India's IT major Infosys

By Sheetal Sukhija, India's News
16 Sep 2018, 23:50 GMT+10

BANGALORE, India - In a deal worth $76 million, the consulting arm of the global software major Infosys announced that it had acquired a leading Finnish consulting firm, Fluido Oy.

Making the announcement, the IT major said that Fluido Oy, which is a leading Salesforce advisor and consulting firm in Finland was acquired to help its clients in digital transformation.

While the company did not mention the acquisition cost in its official media statement, it mentioned the amount in a regulatory filing on the BSE. 

The company's regulatory filing said that "100 percent of Fluido's shares have been acquired in cash for Euro 65 million", which translates to $75.8 million."

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

In its official statement, Infosys said in a statement, "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."

Further, Infosys President Ravi Kumar said in the statement, "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."

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