Infosys to invest $4 mn in Israeli company Cloudyn

The investment is likely to be finished on the 15th of this month.

The Dollar Business Bureau

World’s leading software company, Infosys Ltd, announced on Wednesday that it is investing $4 million (about Rs.27 crore) in an Israeli company - Cloudyn, which offers solutions for software as a service (Saas) for businesses and optimisation 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," Infosys said in a regulatory filing with Bombay Stock Exchange.

The Mumbai-based IT company did not reveal the minority shareholding in percentage terms equal to the cash invested in the Israeli company, which also has its presence in the US.

“The investment is likely to be finished on the 15th of this month,” the filing said.

The investment by Infosys in the Israeli firm comes just two days after its competitor Wipro Enterprises announced on August 1 to buy an H.R. Givon, an Israel-based aerospace company, for an unrevealed amount.

The Dollar Business Bureau - Aug 03, 2016 12:00 IST