Tag "Infosys"

Infosys divests stake in US-based OnMobile Systems

By : CIOL Writers

India’s second largest software services firm, Infosys has divested its investment in OnMobile Systems for $2.49 million. “…it (Infosys) has on February 15, 2018 signed an agreement for divestment of its entire investment from OnMobile Systems Inc. USA for a total consideration of

Infosys chooses Capgemini’s Salil S. Parekh as its new CEO & MD

BANGALORE, INDIA: Infosys has appointed Salil S. Parekh as Chief Executive Officer and Managing Director (CEO & MD) of the Company effective January 2, 2018. Parekh joins Infosys from Capgemini where he was a member of the Group Executive Board. The

Infosys partners Udacity to train employees in the autonomous technology space

By : CIOL Writers

IT giant Infosys has announced a partnership with online learning company Udacity to train its employees in self-driving car engineering technology. The new program called Udacity Connect will give Infosys employees the skills needed in the area as the company continues

Narayana Murthy trusts Nilekani to fix the corporate governance issues at Infosys

BANGALORE, INDIA: The dramatic exit of Infosys CEO Vishal Sikka which led to a bitter tussle between the board and the co-founder NR Narayana Murthy has kept all eyes set on the company for the past two weeks. Now, as

Nandan Nilekani is back at Infosys as new chairman

BANGALORE, INDIA: Infosys has appointed Nandan Nilekani as the Non Executive Chairman of the company’s board. He is also one of the co-founders of Infosys and served as its CEO from 2002 to 2007. The Executive Vice Chairman, Vishal Sikka and two

Vishal Sikka resigns, UB Pravin Rao takes over as interim CEO & MD of Infosys

BANGALORE, INDIA: Infosys CEO and managing director, Vishal Sikka has resigned today with immediate effect, Infosys said in an official statement. UB Pravin Rao has been appointed interim CEO and MD reporting to Sikka under the overall supervision and control of the

Is Infosys mulling a buyback offer to instill confidence in the investors?

Thomas George Infosys scrips ended above 1000 rupee mark per share on the news of their consideration of buyback offer today. In a filing to the stock exchanges, the IT bellwether said in that the board will consider a proposal

Infosys retains revenue guidance for FY18 despite 3.3pc dip in Q1 profit

BANGALORE, INDIA: After TCS, Infosys also reported a a 3.3 percent sequential decline in the net profit to Rs 3,483 crore in Q1. This beats the street expectation anyway, which estimated the net profit at Rs 3,439 crore. Revenue declined 0.2 percent

Infosys Finacle and Active.AI join hands to boost conversational banking with AI

BANGALORE, INDIA: Infosys Finacle has partnered Active.AI, an Enterprise AI platform for banks to help financial institutions offer conversational banking services through chat and voice based interfaces across their digital channels. Active.AI is a Venture Funded Singapore headquartered fintech startup with an innovation

Nandan Nilekani, Helion’s Sanjeev Aggarwal launch $100M startup fund

By : CIOL Writers

Infosys co-founder Nandan Nilekani and Helion Ventures co-founder Sanjeev Aggarwal have teamed up to launch a new $100 million fund called The Fundamentum Partnership for mid-stage consumer technology and software start-ups. The focus will be on Series B or Series

Wipro’s Azim Premji’s salary fell 63pc as profits decline

By : CIOL Writers

Wipro Chairman Azim Premji salary saw a huge 63 percent fall at $1,21,853 (about Rs 79 lakh) last fiscal with no commission being paid during the year. As India’s third-largest software exporter saw a slowdown in profits, it had a direct repercussion

Infosys enters strategic alliance with HP to accelerate digital transformation in the retail industry

USA: Infosys and HP launched joint Retail Point of Sale (RPOS) and Enterprise Device as a Service (DaaS) solutions to help businesses accelerate digital transformation as part of the HP Global System Integrator (GSI) Alliance Program. Adopting new technologies is

Infosys, Wipro and 5 other IT firms reportedly to lay off over 50K employees this year

By : CIOL Writers

Indian IT sector would be witnessing mass layoffs in 2017 that could reach over 50,000. Apparently, 7 of the biggest IT firms are planning to hand over pink slips to at least 56,000 employees this year, reports Livemint. In the wake of US

Infosys to hire 10,000 US workers to wade through H1B visa woes

US: Infosys today announced that it plans to hire 10,000 American workers over the next two years- a step that is believed to be part of the company’s efforts to overcome the visa-related woes. US president Donald Trump recently signed

Infosys launches new artificial intelligence platform ‘Nia’ to solve business problems

USA: Building on the success of its first-generation AI platform, Infosys Mana, and its Robotic Process Automation (RPA) solution, AssistEdge, for which Infosys has 50+ clients and 150+ engagements across all industry sectors, Infosys has now launched Nia, the next-generation Artificial Intelligence Platform.

Infosys lowers guidance for FY18 as Q4 revenue dips; attrition was high in FY17

BANGALORE, INDIA: Infosys today posted a profit of Rs 3,603 crore for the quarter ended March 31, 2017, with a QoQ decline of 2.8 per cent  against Rs 3,708 crore in previous quarter. The revenue also saw a decline of 0.9 per cent

Infosys posts 0.2pc decline in Q3 revenue, cuts FY17 revenue guidance

BANGALORE, INDIA: Infosys has lowered its FY17 revenue guidance to 8.4%-8.8% from 8.0%-9.0%  in constant currency after it reported a revenue dip of 0.2 percent (decline of 0.3% in constant currency terms) to Rs 17,273 crore in the quarter ended in December

Infosys partners MongoDB to tap customers with the application modernization needs

BANGALORE, INDIA: Infosys and MongoDB announced a global partnership designed to help enterprises accelerate their digital transformation and application modernization initiatives with next generation database solutions. Infosys and MongoDB will help new and existing customers address the key pain points of cost, performance

Infosys invests an undisclosed amount in Indian drone startup ideaForge

By : CIOL Writers

Drone startup ideaForge, founded by three IIT Bombay graduates has secured an undisclosed amount of investment from India’s second largest software services firm Infosys. Though Infosys is yet to provide more details, the investment is subject to receipt of regulatory

Infosys to invest Rs 31.6cr in Stellaris Venture Partners

By : CIOL Writers

Infosys has announced that it will invest Rs 31.6 crore in Stellaris Venture Partners, an early-stage venture fund. “The investment is towards the first close of Stellaris’ fund and will be made by December 15,” the IT firm said in