Xoriant Acquires CloudIO to Accelerate Enterprise Digital Transformation

SUNNYVALE, California and MUMBAI, April 18, 2019 /PRNewswire/ --

Acquisition helps Xoriant offer solutions in IoT automation, Supplier Collaboration and Management, and Financial Statement Analysis 

Xoriant Corporation, with headquarters in Silicon Valley, a product engineering, software development, and technology services company, today announced the acquisition of CloudIO, an enterprise grade solution provider in the areas of IoT, supplier collaboration, and financial statement analysis.

CloudIO's digital transformation framework enables enterprises to build custom business solutions leveraging pre-built applications. CloudIO applications leverage existing IT investments, can be deployed quickly with an intuitive user interface and can be built incrementally providing immediate business value and rapid ROI. CloudIO offers various pre-packaged applications powered by its CloudIO framework including:

• Supplier Collaboration & Management enabling purchasing & finance professionals to onboard and engage with vendors at scale.
• Financial Statement Generator, integrated with Oracle EBS and with a powerful and interactive UI, helping controllers & financial analysts to dig deep down into financial data across General Ledger and SLA for financial statement lineage.
• IoT automation framework for building micro apps to proactively manage, monitor, and optimize IoT devices leveraging cloud first frameworks.  

"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," said Girish Gaitonde, Founder and CEO of Xoriant. "We have a comprehensive roadmap to roll out many more CloudIO applications to further foster our digital transformation engagements," he added.

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

About CloudIO 

CloudIO enables enterprises to build custom business solutions leveraging pre-built applications in IoT automation, supplier management, and financial statement analysis that maximize value, improve the user experience and drive efficiency. Architected around a common, no-code framework, enterprises can also easily extend or create custom solutions that perfectly fit their business requirements, have a very short time-to-market and are so flexible that they evolve continuously along with business needs while being able to leverage legacy infrastructure. Learn more at http://www.cloudio.io.

About Xoriant 

Xoriant is a Silicon Valley-headquartered product engineering, software development, and technology services firm with offices in the U.S., Europe and Asia. For both technology companies and enterprises, from startups to the Fortune 100, we leverage our expertise in emerging technologies and our high-performing teams to deliver innovative solutions that accelerate time to market and keep our clients competitive.

Across all our technology focus areas - Product Engineering, DevOps, Cloud, Infrastructure & Security, Big Data & Analytics, Data Management & Governance, Digital, and IoT - every solution we develop benefits from our product engineering pedigree. For 25 years and counting, we have taken great pride in the long-lasting, deep relationships we have with our clients. Learn more at http://www.xoriant.com.

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