Infosys acquires stake in US-based Trifacta
The Dollar Business Bureau
The Bengaluru based, second largest Indian IT company Infosys, said on Thursday that it has acquired a minority stake in the San-Francisco based data visualisation start-up Trifacta. The amount is yet to be disclosed. Trifacta has raised till date $76.3 million in four rounds of venture funding this year.
Trifacta develops productivity platforms that enables non-technical users to transform data for analysis, easily. As per the agreement, Trifacta will give data wrangling solution for the Infosys’ IIP (Infosys Information Platform) and other platforms that Infosys uses.
“Trifacta’s market-leading technology will enable Infosys clients to bring together diverse and disparate data into more digestible form for downstream analysis." said Ritika Suri, Senior Vice President, Corporate Development, Infosys.
Significantly Infosys’s investment in Trifacta is the second such investment that the IT giant has made. Earlier in January Infosys had invested a minority stake in a Delaware based company, Waterline Data Science, a start-up that makes sense of the huge data that companies accumulate.
"We see tremendous potential in self-service data preparation solutions like Trifacta to significantly help clients unlock the business value of their diverse and fast-growing big data assets," said Ritika Suri, Senior Vice President (Corporate Development), Infosys.
The agreement is part of Infosys' commitment to facilitate data management solutions to its clients. The deal complements our data management and automation platforms, Suri said.
"We are thrilled to become a part of IIP and collaborate with Infosys as a key go-to-market partner. This partnership will play an important role in our global expansion, bringing the power and value of data wrangling to customers around the world," Trifacta CEO Adam Wilson said.
In 2015, the Bangalore-based IT major had announced a $500-million Innovation Fund. It had underscored that the amount will be invested in companies that foster artificial intelligence (AI), innovative technologies on automation and Internet of Things (IoT).