Kovai.co Acquires Floik to Enhance Document360

Kovai.co, a Coimbatore-based enterprise software company, has acquired Bengaluru's Floik, a SaaS platform specializing in interactive product demos and guides. This acquisition is aimed at enhancing Kovai.co's AI-powered knowledge management software, Document360, which serves over 2,500 global customers. Floik's tools are expected to improve user engagement and software adoption, with Kovai.co anticipating a 35% year-over-year revenue increase in its knowledge management category. Six members of Floik's team, including its CTO, will join Kovai.co to ensure continuity in product development and support. The acquisition aligns with Kovai.co's strategy to innovate and expand its offerings in the SaaS market, leveraging Floik's capabilities to provide a more impactful user experience. Although the deal size remains undisclosed, both companies express excitement about the partnership and its potential benefits.