Infotech acquires Zluri: what the SaaS deal means
Infotech, formerly known as Info-Tech Research Group, has acquired Bengaluru-based SaaS management and identity governance startup Zluri. The deal is Infotech's first acquisition in its nearly 30-year history.
The acquisition was announced alongside the global launch of Infotech's CIO Analytics platform. Zluri will continue serving its existing customers as a standalone division of Infotech, with its team based in Bengaluru. Its application discovery and identity governance and administration (IGA) products will become core modules of the new platform.
The financial terms were not disclosed. The startup plans to expand its technology teams as it continues developing its capabilities. Solomon Partners served as Infotech's financial adviser on the transaction.
Zluri, founded in 2020 by Ritish Reddy, Chaithanya Yambari and Sethu Meenakshisundaram, develops software that helps organisations discover, manage and govern SaaS applications, digital identities and access permissions.
Its platform gives IT and security teams visibility into the applications used across an organisation, including who has access to them, how they are used and how much is spent on software. These capabilities are designed to help businesses identify security risks, control software expenditure and manage increasingly complex application and identity environments across SaaS, cloud and on-premises systems.
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According to the startup, it serves more than 250 organisations, including monday.com, Tipalti and BambooHR. Its backers include Lightspeed, MassMutual Ventures, Endiya Partners and Kalaari Capital.
CIO Analytics is now available across all markets, launching with three modules: Service Desk Analytics, Application Discovery, and Identity Governance and Administration. The latter two modules incorporate Zluri's capabilities.
The deal also gives Zluri access to Infotech's global community of more than 30,000 IT leaders, potentially supporting its international expansion. Infotech said it has surpassed $300 million in annual revenue.
Zluri co-founder and CEO Ritish Reddy said: "The next era of IT won't be won by software or by legacy advisory alone. It will be won by bringing them together. From our first conversations with Infotech, it was clear this was the right home for Zluri. We share the same values and ambition for what we can build for CIOs and their teams."
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