Infosys Chief Executive Officer Vishal Sikka said his company was not overwhelmed by the problem of automation and that it is trying to retrain its staff displaced by automation. Sikka was responding to a question on ‘what happened to the 11,000 employees’ displaced by automation at the sidelines of the World Economic Forum at Dalian […]
IT services player Infosys again clarified that its promoters had no plans to bring down their stake in the company. “Infosys would like clarify reports in the media speculating on plans of stake sale by the promoters,” the company said in response to a decline in its share price. “This speculation has already been categorically […]
Infosys Chief Executive Officer Vishal Sikka said the company’s performance in the January-March period was below his expectations for various reasons. “It is a challenging performance,” Sikka said in a post-result press conference. “We were expecting a higher number,” said, adding that the situation in the last quarter will have some impact on the new […]
Infosys Ltd said it expects its revenue to grow by a modest 6.5-8.5%, stripped off the impact of currency movements, in the year that started this month. The street was expecting a guidance of 7-9% growth. The guidance is well below the traditional guidance range of low two digit percentages. Last year, it had guided for a growth […]
Technology services provider Infosys said it made an investment of 14.92 mln Danish kroners in Danish startup UNSILO from its innovation fund. UNSILO is a Danish artificial intelligence startup founded in 2012 and focus on advanced text analysis. It uses a combination of machine-learning and natural language processing to analyze large quantities of text and […]
Technology provider Infosys said it made investment in TidalScale, a provider of software-defined server. No details about the financial aspects of the investment were made public. TidalScale’s offering, in many ways, is the opposite of virtualization. While virtualization allows you to split a single hardware-based server into several virtual servers, the software-defined server helps combined […]
Infosys Ltd said its banking software Finacle has been named the leader among nine top banking platforms in ‘The Forrester WaveTM: Customer-Centric Global Banking Platforms, Q3 2016’. The ranking was done on the basis of 40 criteria focusing on strategy, current offering and market presence. They scored 4.35 out of 5 and are the only […]
Infosys said one of its board members has resigned for personal reasons. Carol M. Browner was an independent director of the company. She has served as director of the White House Office of Energy and Climate Change Policy in the Obama administration from 2009 to 2011. She is a Distinguished Senior Fellow at the Center […]
Infosys Ltd, one of India’s top IT consulting companies, said it had agreed to acquire Texas-based Noah Consulting LLC, “a leading provider advanced information management consulting services for the oil and gas industry” for $70 mln cash. Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, […]
Infosys, the country’s third largest IT services exporter, announced that its first-quarter revenue has risen 4.5% to $2.26 bln vs expectations of $2.22 bln, beating the expected revenue. Against an expected sequential growth of 2.9% in constant currency, Infosys reported an actual growth of 4.4% in constant currency. Analysts expectations were for a 2.9 per […]
Infosys said it will now offer the Finacle suite of software solutions on Verizon Cloud. Finacle is a software suite designed to run banks on, while Verizon cloud refers to an Internet-based platform offered by Verizon. Core bank software is usually not run on cloud computing infrastructure, particularly over public cloud platforms, due to security-related concerns. […]
Infosys said it has signed a multi-year agreement with Deutsche Bank, without disclosing the deal size. Under the terms of the agreement, Infosys will provide services like be-spoke development, application maintenance services, digital and mobility, package implementation, and testing services, to the bank. It “will also be a strategic partner under Deutsche Bank’s Supplier Partnership […]
Infosys Limited said it will announce the results for its first quarter ended June 30, 2015 on Tuesday, July 21, 2015 at 8:45 a.m. India time. Normally, the company announces its first-quarter results on or around the 10th of July, and is usually the first Indian IT company to report results. However, the company has […]
Infosys has appointed Roopa Kudva, CEO of ratings and analytics company CRISIL, as an Independent Member of its Board of Directors. Kudva has “led CRISIL’s evolution from India’s leading credit rating agency to a diversified analytical company with clients ranging from the largest investment banks of the world to tens of thousands of small firms […]
Wipro will cut one third of its employee base. Tata Consultancy Services to apparently let go off 25,000 senior employees (according to Business Standard). Infosys is in the middle of a transformation aimed at limiting the number of employees and increasing the use of automation. Is the golden age of Indian Information Technology over? More […]
Infosys co-founder Senapathy “Kris” Gopalakrishnan has donated $1.8 million (about Rs 11 crore) to the US-based Carnegie Mellon University (CMU) to establish a research partnership between CMU and the Centre for Brain Research (CBR) at the Indian Institute of Science (IISc) in Bangalore. The partnership will strategically leverage the research strengths of both institutions while […]
It often happens that when a company is investing heavily into a strategic, next-generation project, its margins take a hit and the stock goes down. The reaction to attributed to investors’ inability to full understand a company’s business and priorities. But sometimes, it way work the other way too. The stock of Infosys actually went […]
Tata Consultancy Services Ltd, which has been disappointing analysts for the last three quarters with sequential growth of 2.0-2.5%, is likely to see a break-out in its upcoming results with a 5.1% jump in revenue, Kotak Institutional Equities said. It also projected a 2.3% jump for Infosys, which had seen its revenue fall by 0.4% […]
Infosys announced the appointment of Vishal Sikka as the new Chief Executive Officer and Managing Director of the company. Sikka will be inducted as a whole-time director of the Board and CEO & MD (Designate) on June 14, 2014. He will take over as CEO and MD from Mr. S. D. Shibulal on August 1, […]
The Infosys Board of Directors announced the selection of Dr. Vishal Sikka of SAP as the Chief Executive Officer and Managing Director (CEO & MD) of the company. Sikka will be inducted as a whole-time director of the Board and CEO & MD (Designate) on June 14, 2014. He will take over as CEO & […]
