Infosys to buy Finnish firm for $76mn

Indian IT services supplier Infosys has agreed to spend $76 million to buy Fluido, a Salesforce consulting partner in the Nordics in Europe 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. Ravi Kumar S, President and Deputy Chief Operating Officer, Infosys, said: “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. This acquisition also aligns with our efforts to invest in local capabilities in the regions in which we operate.” Bengaluru-based Infosys's latest acquisition is significant for three reasons, according to analysts. First, Infosys through Fluido can expect to generate more business from clients in the Nordic region comprising Finland, Denmark, Sweden, Norway and Slovakia. Second, the acquisition will help put the consulting arm back on the growth pedestal after more than two years of tepid performance. Finally, 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.