Country's second largest software services firm Infosys on Friday said it will divest its entire investment in ANSR Consulting Holdings, Inc, for a total amount of $1 million.
"The company has, on December 28, 2017, signed an agreement for divestment of its entire investment in ANSR Consulting Holdings, Inc, for a total consideration of $1,000,000," Infosys said in a BSE filing.
In July 2015, Infosys had announced acquisition of a minority stake in ANSR Consulting from its $500 million Innovation Fund.
ANSR Consulting is a leading Global In-house Centre (GIC) strategy consulting and implementation firm, which helps global enterprises establish strategic service delivery and innovation capabilities.
ANSR Consulting, which has helped establish several GICs within India, creates joint ventures with companies such as those in the Fortune 500.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.