Infosys invests $4 million in Israeli firm
Bengaluru, Aug 3 (IANS) Global software major Infosys Ltd on Wednesday announced investing $4 million (Rs.27 crore) in Cloudyn, an Israeli corporation, providing software as a service (Saas) solutions for the management and optimization of hybrid, multi-cloud deployments.
“Cloudn enables enterprises to manage and optimise their hybrid, multi-cloud deployments. The solution provides visibility into usage, performance and cost, coupled with actionable recommendations for confident cloud growth,” said the IT major in a regulatory filing with stock exchange BSE in Mumbai.
The city-based company did not disclose the minority holding in percentage equivalent to the cash investment in the five-year-old Israeli firm, which has presence in the US.
“The investment is expected to be completed on August 15,” the filing noted.
Incidentally, Infosys investment in Cloudyn comes two days after its rival Wipro Enterprises’ infrastructure engineering division announced on August 1 buying an Israeli-based aerospace firm H.R. Givon for an undisclosed amount.