Infosys to invest $10 million in Irish start-ups

Bags long-term outsourcing deal from Allied Irish Banks

Infosys  will invest $ 10 million to fund startups in Ireland. The Bengaluru-based firm this year set up a $ 500 million global innovation fund in start-ups that work on disruptive technologies. Infosys is keen to continue sharing its expertise to assist start-ups that are developing and enabling these technologies, it said in a statement.

Infosys will take over 200 people on its rolls from Allied Irish Banks,  for an outsourcing contract it won from the Irish financial services group and set up a unit to house them in Dublin. The company will also hire additional local staff as it expands its engagement with Allied Irish.

Infosys has not disclosed the value or tenure of the deal that involves application development and management, transformation and innovation services.
 
" Our investment in the Irish start-up community reflects our belief that Ireland is a strong and vibrant nation, home to entrepreneurs who share our vision of technology as a way to drive growth.  We will leverage our broad experience in Financial Services and other industries to support the digital transformation journey and strategic growth plans of AIB,” Mohit Joshi, Executive Vice President, Global Head of Financial Services, Infosys said  in the statement