Infosys to divest stake in Israeli start-up CloudEndure for $15.3 mn

IT giant Infosys Saturday said it has inked a pact to divest its shares in Israeli startup CloudEndure Limited for a total consideration of around $15.3 million (about Rs 110 crore).

"The company has, on December 14, 2018, signed an agreement to divest its shares in CloudEndure Ltd for a total consideration of around $15.3 million, subject to necessary conditions," Infosys Ltd said in a regulatory filing.

In 2015, Infosys had picked up a minority stake in CloudEndure, that provides cloud migration and cloud-based disaster recovery software, for $4 million.