Infosys to acquire Fluido for up to Rs 545 crore

Infosys share buyback coming; stock gains most on Sensex, Nifty

India’s second largest IT services firm Infosys said Friday it will acquire Finland-based Fluido in a deal worth up to 65 million euros (over Rs 545 crore).

The acquisition — for “up to 65 million euros 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.

Infosys to acquire Fluido for up to Rs 545 crore

“…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 in Espoo, 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.

“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 to 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 October 15 and 16 to consider the financial results for the quarter ended September 30, 2018.

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

source : businesstoday