Xoriant Acquires CloudIO to Strengthen IoT and Digital Transformation Capabilities

Xoriant announced CloudIO acquisition, last week, to strenghten its plan to offer solutions in IoT automation, Supplier Collaboration and Management, and Financial Statement Analysis. The financial terms of the acquisition were not disclosed.

Xoriant is product engineering, software development, and technology services firm with its footprints in the U.S., Europe, and Asia.

Architected around a common, no-code framework, CloudIO helps their customers build custom business solutions leveraging pre-built applications in IoT automation, supplier management, and financial statement analysis

Executive Opinion

Founder and CTO of CloudIO, Sreenivas Thammaneni, "We are excited to be part of Xoriant and partner with leading cloud and solution providers including Microsoft, Amazon, and Oracle. As a Xoriant company, we will be able to scale our digital transformation offerings to more customers deploying private, public and hybrid cloud solutions."

Founder and CEO of Xoriant, Girish Gaitonde, said, "CloudIO’s marquee customer base spans the financial and social media industry that perfectly complements Xoriant’s enterprise customer relationships. This acquisition enables us to jointly deliver digital transformation solutions to these customers. We have a comprehensive roadmap to roll out many more CloudIO applications to further foster our digital transformation engagements."

About CloudIO acquisition

CloudIO offers pre-packaged applications powered by its CloudIO framework. The capabilities include Supplier Collaboration & Management, Financial Statement Generator and IoT automation framework.

IoT automation framework helps in building micro apps to proactively manage, monitor, and optimize IoT devices leveraging cloud first frameworks, says the announcement.

The acquisition will allow Xoriant to offer capabilities that accelerate enterprise digital transformation for its customers.