Infosys to acquire Finland-based Fluido for over Rs 544 crore; to strengthen presence in Europe

Bengaluru: India's second largest IT services firm Infosys said, on Friday, it will acquire Finland-based Fluido in a deal worth up to EUR 65 million (over Rs 544 crore).

The acquisition - for up to EUR 65 million including earn-out, management incentives and bonuses - is expected to close during the third quarter of fiscal 2019, subject to customary closing conditions, Infosys said in a statement.

"...this acquisition strengthens Infosys' position as a leading Salesforce enterprise cloud services provider and enhances its ability to provide clients an unparalleled cloud-first transformation...The acquisition strengthens Infosys' presence in the Nordics region," it added.

Headquartered at Espoo in Finland, Fluido is one of the largest Salesforce (software company) consulting partners in Europe. It is majority-owned by its management team and CapMan private equity, with Salesforce Ventures having a minority stake. Its offerings include cloud consulting, implementation and training services.

Founded in 2010, Fluido has offices in Finland, Denmark, Sweden, Norway and Slovakia. Its customers span industries like manufacturing, energy, retail and telecommunications.

Representational image. Reuters.

Representational image. Reuters.

"This acquisition demonstrates Infosys' commitment to the Salesforce ecosystem to address our client's digital priorities. Fluido will be an important addition to the Infosys family, bringing a unique combination of market presence, deep salesforce expertise, agile delivery and training," Infosys President and Deputy COO Ravi Kumar said.

This acquisition also aligns with Infosys' efforts to invest in local capabilities in the regions in which it operates, he added.

In a separate filing, the Bengaluru-based company said its Board will meet on 15 and 16 October to consider the financial results for the quarter ended 30 September 2018.

"The financial results will be presented to the Board of Directors on 16 October 2018 for their approval," the filing added.

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Updated Date: Sep 15, 2018 10:50:32 IST

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