Mumbai: Infosys, the country's second largest IT services firm, on Friday said it would acquire Finland-based Fluido in a deal worth up to 65 million euros (over Rs 545 crore).
Fluido is one of the largest consulting partners of cloud computing firm Salesforce.
It is majority-owned by its management team and CapMan private equity, with Salesforce Ventures having a minority stake.
Fluido's offerings include cloud consulting, implementation and training services. It has offices in Finland, Denmark, Sweden, Norway and Slovakia and its customers are spread across industries such as manufacturing, energy, retail and telecommunications.
The acquisition - for up to 65 million euros, including earn-out, management incentives and bonuses - is expected to close during the third quarter of 2018-19, subject to customary closing conditions, Infosys said in a filing to the stock exchanges after market hours.
Prior to the announcement, its shares ended lower at Rs 735.
Commenting on the rationale behind the acquisition, Bangalore-based Infosys said Fluido will enable it further to help clients navigate the next step in their digital transformation journey.
Further, the acquisition is expected to strengthen Infosys' position as a leading Salesforce enterprise cloud services provider.
Fluido has been one of the largest and longest tenured independent Salesforce consulting partners in Europe. Infosys said the acquisition will bring globally recognised Salesforce expertise, apart from a strong delivery process that scales digital efforts for its various customers.
"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, that combined with our existing capabilities will help companies re-imagine and transform their businesses.
"This acquisition also aligns to our efforts to invest in local capabilities in the regions in which we operate'' Ravi Kumar, president and deputy COO, Infosys, said.
In April, Infosys had announced that it will acquire WongDoody Holding Company, a US-based digital creative and consumer insights agency, for a total consideration of up to $75 million. The acquisition was completed in the subsequent month.