Infosys said it will invest an additional sum of $0.45 million in TidalScale Inc, a software-defined-server technology startup.
Till date, the IT major has invested $3 million, taking the cumulative investment to $3.45 million as of date (subject to necessary closing conditions). The announcement was made post trading hours yesterday, 16 August 2021.
TidalScale Inc.'s software helps enterprises to virtualize server for faster deployment with reduced cost and improved in-memory compute performance in private/ public/ hybrid cloud environment. The enterprises who are experiencing exponential growth in data see significant value in TidalScale Inc.'s offering. The investment is intended to be utilized for Research & Department (R&D), business development and working capital needs.
Infosys' consolidated net profit grew 2.3% to Rs 5,195 crore on 6% increase in revenue to Rs 27,896 crore in Q1 June 2021 over Q4 March 2021.
Shares of Infosys rose 0.84% to Rs 1,719 on BSE. Infosys is a global leader in next-generation digital services and consulting.
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