Infosys invests 4 million dollars in Israel based CloudEndure
Mayuresh Deshmukh / 10 Dec 2015
India's second largest software services firm Infosys Ltd. informed the exchange that it has made an investment in Israel based CloudEndure by acquiring 20 percent stake of the company.
India's second largest software services firm Infosys Ltd. informed the exchange that it has made an investment in Israel based CloudEndure by acquiring 20 percent stake of the company. The investment closed at USD 4 million in an all cash transaction. It is engaged in the development and sale of software for cloud-based disaster recovery (DR) and cloud migration.
Incorporated in 2013 CloudEndure provides enterprise grade cloud migration and cloud based disaster recovery software that uniquely supports migration and DR for both on-premise to-cloud and cloud-to-cloud scenarios. It has presence in Israel and United States of America.
This investment in CloudEndure is of significant strategic importance to Infosys as it offers a highly differentiated solution addressing a USD 15 billion software and services market to Infosys. Earlier this year, Infosys had announced a $500 million Innovation Fund, earmarked for investments in the growth of disruptive new technologies.
On the financial front the total consolidated operating revenue of Infosys for FY15 stood at Rs.53319 crores an increase of 6.36 percent on yearly basis. The EBITDA of the company is Rs.12837 crores an increase of 19.45 percent and the EBITDA margin is of 24 percent as compared to 21.50 percent for same period last year. The substantial increase in EBITDA is driven by good operational efficiency of the company. Employee benefit expenses which consists of 56 percent of the operating revenue increased by just 3.37 percent in FY15 compared to 28 percent increase a year before that. The net profit of the company for FY15 stood at Rs. 12372 crores an increase of 16 percent on yearly basis.
Today, the stock of the company is trading at Rs.1036 an increase of 0.62 percent from the previous close.
Infosys is engaged in consulting, technology, outsourcing and next-generation services. Its segments are Financial Services and Insurance, Manufacturing, Energy and utilities, Communication and Services, Retail, Consumer packaged goods and Logistics, Life Sciences and Healthcare, and Growth Markets.
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