Infosys invests $10mn in Ireland start-ups

BANGALORE, INDIA: Infosys has announced that it has been selected as a strategic partner by Allied Irish Banks, p.l.c. (AIB), a financial services group operating predominantly in the Republic of Ireland and the UK. It will invest $10 mn in expanding in Dublin.

It will  set up a 200-seat facility to house the staff who will be transferring from AIB as well as any additional staff who will be appointed locally following recent agreements that Infosys has signed in the region.

This partnership with AIB is a springboard for Infosys to expand its services into a new market. Infosys intends to set aside $10m from its global Innovation Fund for Ireland-based start-ups.

Earlier this year, Infosys announced the US$500m Innovation Fund earmarked for investments in the growth of disruptive new technologies. Infosys is keen to continue sharing its expertise to assist start-ups that are developing and enabling these technologies.