Infosys pares stake in Boston-based startup for $10 mln

The IT major on Friday (18 December 2020) announced that it has divested one-third of its holding in Boston-based Whoop Inc for about $10 million.

In 2015, Infosys had made a minority investment of $3 million in Whoop, which offers performance optimisation solutions for professional athletes and sports teams.

Whoop's system includes a device worn by athletes on their wrist that continuously measures key strain and recovery variables, and actionable analytics powered by proprietary algorithms that generate intensity and recovery scores. This enables athletes and coaches to gain visibility into the drivers of high performance, guide training and make optimal game day decisions.

Shares of Infosys advanced 2.64% to Rs 1,189.75 on Friday, 18 December 2020. The scrip has jumped 132.78% from its 52-week low of Rs 511.10 hit on 19 March 2020.

The IT major's consolidated net profit jumped 13.71% to Rs 4,858 crore on 3.82% rise in net sales to Rs 24,570 crore in Q2 September 2020 over Q1 June 2020.

Infosys is a global leader in next-generation digital services and consulting.

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