Infosys edges higher on investing $4 million in CloudEndure

The stock opened at Rs 1,037 and touched an intra-day high of Rs 1,042 on the NSE

Shares of Infosys are up almost 1% at Rs 1,036 on the NSE after the IT major announced that it has made an investment of $4 million in CloudEndure, a startup that provides cloud migration and cloud-based disaster recovery software.

Infosys said that the company has invested $4 million in cash in CloudEndure for acquiring a minority holding, not exceeding 20% of the outstanding capital of the company.

CloudEndure provides enterprise grade cloud migration and cloud-based disaster recovery (DR) software that uniquely supports migration and DR for both on-premise to-cloud and cloud-to-cloud scenarios.

Infosys said that many leading enterprises look to the company for guidance and implementation services associated with large-scale infrastructure transformation projects.

The stock opened at Rs 1,037 and touched an intraday high of Rs 1,042. At 10:45 am, around 600,00 shares were traded on both the stock exchanges.