Infosys exits CloudEndure with a tidy profit

Bangalore-based IT services firm Infosys said it has sold its minority stake in Israel-based CloudEndure for $15.3 million.

The company had invested $4 million in the cloud computing start-up for a stake of less than 20% three years ago  

Infosys did not clarify who was buying the stake or what the reason for the sale was.

CloudEndure is a creator of disaster recovery and back up software for cloud migration.

Infosys is frequently called upon by its clients to migrate their systems from a traditional set-up to a cloud environment. CloudEndure software ensures that the migration takes place smoothly and without a loss of data.

The software can also support migration of data from one cloud provider to another.

Cloud computing related jobs, such as migrating to a cloud and support for cloud-based operations, are an increasing part of the workload that IT services companies like Infosys have to deal with.