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Infosys invests $4M in Israeli startup CloudEndure

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InfosysCountry's second largest software services firm Infosys today said it has picked up minority stake in CloudEndure, an Israeli startup that provides cloud migration and cloud-based disaster recovery software, for USD 4 million (about Rs 26.7 crore).

The all-cash transaction will be completed by December 11, 2015, Infosys said in a filling to the BSE.

"The company (CloudEndure) offers a highly differentiated solution addressing a USD 15 billion software and services market that is of significant strategic importance to Infosys," it added.

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With the investment, Infosys has picked up a minority, not exceeding 20 per cent of the outstanding share capital of the company, it said.

Set up in 2013, the privately-held CloudEndure has a presence in Israel and the US.

The Bangalore-based firm is actively scouting for companies working on innovative technologies. Earlier this year, Infosys had announced a USD 500-million Innovation Fund, earmarked for investments in the growth of disruptive new technologies.

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The company has stated that it will invest in companies that develop innovative technologies on automation, Internet of Things (IoT), and artificial intelligence (AI).


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