Vishal Sikka says Infosys trying to retrain employees displaced by automation

Infosys Chief Executive Officer Vishal Sikka said his company was not overwhelmed by the problem of automation and that it is trying to retrain its staff displaced by automation. Sikka was responding to a question on ‘what happened to the 11,000 employees’ displaced by automation at the sidelines of the World Economic Forum at Dalian […]

We expected better numbers: Vishal Sikka of Infosys

Infosys Chief Executive Officer Vishal Sikka said the company’s performance in the January-March period was below his expectations for various reasons. “It is a challenging performance,” Sikka said in a post-result press conference. “We were expecting a higher number,” said, adding that the situation in the last quarter will have some impact on the new […]

Infosys guides for FY18 growth of 6.5-8.5% in constant currency

Infosys Ltd said it expects its revenue to grow by a modest 6.5-8.5%, stripped off the impact of currency movements, in the year that started this month. The street was expecting a guidance of 7-9% growth. The guidance is well below the traditional guidance range of low two digit percentages. Last year, it had guided for a growth […]

Infosys invests Rs 14.5 cr in Danish artificial intelligence startup UNSILO

Technology services provider Infosys said it made an investment of 14.92 mln Danish kroners in Danish startup UNSILO from its innovation fund. UNSILO is a Danish artificial intelligence startup founded in 2012 and focus on advanced text analysis. It uses a combination of machine-learning and natural language processing to analyze large quantities of text and […]

Infosys invests TidalScale, provider of simple supercomputing software

Technology provider Infosys said it made investment in TidalScale, a provider of software-defined server. No details about the financial aspects of the investment were made public. TidalScale’s offering, in many ways, is the opposite of virtualization. While virtualization allows you to split a single hardware-based server into several virtual servers, the software-defined server helps combined […]

Infosys acquires oil and gas specialist Noah Consulting for $70 mln

Infosys Ltd, one of India’s top IT consulting companies, said it had agreed to acquire Texas-based Noah Consulting LLC, “a leading provider advanced information management consulting services for the oil and gas industry” for $70 mln cash. Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, […]

Infosys revenue beats estimates, now better than TCS?

Infosys, the country’s third largest IT services exporter, announced that its first-quarter revenue has risen 4.5% to $2.26 bln vs expectations of $2.22 bln, beating the expected revenue. Against an expected sequential growth of 2.9% in constant currency, Infosys reported an actual growth of 4.4% in constant currency. Analysts expectations were for a 2.9 per […]

Infosys to offer Finacle in the SaaS mode with Verizon

Infosys said it will now offer the Finacle suite of software solutions on Verizon Cloud. Finacle is a software suite designed to run banks on, while Verizon cloud refers to an Internet-based platform offered by Verizon. Core bank software is usually not run on cloud computing infrastructure, particularly over public cloud platforms, due to security-related concerns. […]

Infosys wins multi-year contract from Deutsche Bank

Infosys said it has signed a multi-year agreement with Deutsche Bank, without disclosing the deal size. Under the terms of the agreement, Infosys will provide services like be-spoke development, application maintenance services, digital and mobility, package implementation, and testing services, to the bank. It “will also be a strategic partner under Deutsche Bank’s Supplier Partnership […]

Infosys appoints CRISIL CEO as independent director

Infosys has appointed Roopa Kudva, CEO of ratings and analytics company CRISIL, as an Independent Member of its Board of Directors. Kudva has “led CRISIL’s evolution from India’s leading credit rating agency to a diversified analytical company with clients ranging from the largest investment banks of the world to tens of thousands of small firms […]

Is the golden age of the IT professional over as Infosys, TCS, Wipro lose weight?

Wipro will cut one third of its employee base. Tata Consultancy Services to apparently let go off 25,000 senior employees (according to Business Standard). Infosys is in the middle of a transformation aimed at limiting the number of employees and increasing the use of automation. Is the golden age of Indian Information Technology over? More […]

Kris Gopalakrishnan donates Rs 11 crore for IISC-Carnegie Mellon partnership

Infosys co-founder Senapathy “Kris” Gopalakrishnan has donated $1.8 million (about Rs 11 crore) to the US-based Carnegie Mellon University (CMU) to establish a research partnership between CMU and the Centre for Brain Research (CBR) at the Indian Institute of Science (IISc) in Bangalore. The partnership will strategically leverage the research strengths of both institutions while […]

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