US-based SaaS firm Cilio acquires AutomationFactory AI

economictimes.indiatimes.com:

Cilio Technologies, LLC, has acquired AutomationFactory.AI, the company said on Tuesday. AutomationFactory.AI is a Noida-based, end-to-end digital transformation and product development firm.

With the acquisition, the new entity would become Cilio Automation Factory (CAF), Cilio's global engineering hub focused on innovation for the field service management space, the statement said. Post the acquisition, AutomationFactory will triple its team to over 120 people in a year.Cilio supports over 20,000 active installers, manufacturers, and distributors across the US market and has built and supported systems for companies like Caesarstone, IKEA, LG, Lowes Home Improvement, and others across four continents.

CAF contributes to the product development and systems integration work required to tackle complex problems. «With our current team consisting of over 40 members, our goal is to triple our workforce within the next year through this new alignment,» Automation factory Co-founder, Amit Bana said.

CAF will be centered in India, doubling the engineering talent at Cilio, with plans for additional growth. «The CAF business unit will also lead the charge in serving the South Asian home goods installation industry, with an addressable market valued over USD 10 billion and growing 10 per cent annually,» the statement said.