Infotech has acquired Zluri, a Bengaluru-based startup that builds software for managing SaaS applications and digital identities. The global IT research and advisory firm did not disclose the financial terms of the transaction. It is Infotech’s first acquisition in close to 30 years, and it arrived alongside the global launch of the company’s new CIO Analytics platform.
Zluri will continue to operate as a standalone division of Infotech, and its team will stay in Bengaluru. The two companies described the deal as a way to combine Zluri’s product capability with Infotech’s reach across large enterprises.
What the deal covers
Infotech, formerly known as Info-Tech Research Group, is an Ontario-based IT research and advisory firm. Zluri builds software that helps organisations discover, manage and govern the SaaS applications, digital identities and access permissions used across a company. Under the deal, Zluri’s application discovery and identity governance and administration tools will become core modules of the new CIO Analytics platform, which combines operational IT data, artificial intelligence, research and analyst expertise.
The funding and investors behind Zluri
Zluri was founded in 2020 and has raised more than $32 million in total funding, according to Inc42. Its investors include Lightspeed, MassMutual Ventures, Endiya Partners and Kalaari Capital. The most recent round was a $20 million Series B in 2023. Because the acquisition terms were not made public, the exit value for those backers is not known.
The numbers behind the two businesses
Zluri says it serves more than 250 organisations. Its customer list includes monday.com, Tipalti, BambooHR, Whoop, Razorpay, Amagi and Traveloka, as reported by Inc42 and the companies. More than 60 percent of Zluri’s revenue comes from Europe and North America. On the buyer’s side, Infotech says it has grown more than 340 percent over the past seven years and crossed $300 million in annual revenue.
Founders and the Bengaluru team
Zluri was started by Ritish Reddy, Chaithanya Yambari and Sethu Meenakshisundaram. Reddy is co-founder and chief executive. He said the next era of IT will not be won by software alone or by legacy advisory alone, but by bringing the two together. The founders and the core engineering and product teams stay in Bengaluru, where Zluri will continue to develop its products.
Read more: Cloudflare Acquires Serverless Startup Deno To Strengthen Workers Platform. Large platform companies are buying small software teams to plug capability gaps, the same consolidation playbook behind the Infotech and Zluri deal.
What happens next for customers
Zluri will keep serving its existing customers as a standalone division, and it plans to expand its technology teams as it builds further. For Infotech, the main prize is distribution. The advisory firm says it has a community of more than 30,000 IT leaders, a channel that Zluri did not have on its own.
Why the deal matters
Buyers increasingly want application discovery, identity governance and software spend control in one console rather than as separate tools. Infotech is a research and advisory business buying product capability, while Zluri is a product company buying distribution into large enterprises. The deal also fits a wider trend of global companies acquiring Indian SaaS startups to add capability, after Freshworks bought Torii and Adobe bought Rilo. Solomon Partners served as Infotech’s financial adviser on the transaction.
