Infosys acquires Fluido to expand in Nordics

Tinuku - Infosys, one of India’s largest IT services firm, has agreed to spend $76 million to buy Fluido, a Salesforce consulting partner in the Nordics in Europe, the company said on Friday, marking the second acquisition under chief executive officer (CEO) Salil Parekh, who took over nine months ago.

Finland-based Fluido is a privately held firm that was founded in 2010. Infosys did not disclose the revenue of Fluido but said it expects to close the acquisition during October-December.

Tinuku Infosys acquires Fluido to expand in Nordics

“Fluido will be an important addition to the Infosys family, bringing a unique combination of market presence, deep salesforce expertise, agile delivery and training, that combined with our existing capabilities will help companies reimagine and transform their businesses,” said Ravi Kumar S, president and deputy COO of Infosys.

Bengaluru-based Infosys’s latest acquisition is significant for three reasons, according to analysts. Infosys through Fluido can expect to generate more business from clients in the Nordic region comprising Finland, Denmark, Sweden, Norway and Slovakia.

The acquisition will help put the consulting arm back on the growth pedestal after more than two years of tepid performance.

Infosys’s second acquisition after it spent $75million to buy WongDoody, the US-based ad agency in April, suggests that the company is not shying away especially after its three earlier failed acquisitions made under former CEO Vishal Sikka’s watch. In 2015, under Sikka’s leadership, Infosys spent $370 million to acquire Panaya, Skava and Noah Consulting.

Three years later, it decided to put both Panaya and Skava on the block, having already been forced to write down 59% of the $220 million acquisition of Israeli-automation firm, Panaya. Infosys has already shut down Noah Consulting, which it bought for $70 million, and transferred all the business to the parent company.