India’s second-largest information technology services firm Infosys would soon invest in a start-up that develops cloud-based air quality detectors, said a senior official.

He added the investment is in line with the Bangalore-based IT major’s strategy of providing support to start-ups exploring innovative products in new-generation technologies, such as Internet of things, machine learning and artificial intelligence. The executive, however, did not reveal the name of the company or the quantum of investment.

Soon after closing its first investment in the start-up space, Infosys, India’s second largest IT services company is learnt to be in the process of making one more investment in a company which develops cloud-based air quality detectors.

According to a senior official at the Bengaluru-company, the investment is in line with Infosys’s strategy of providing support for start-ups that are innovative in new generation technologies such as internet of things (IoT), machine learning and artificial intelligence.

BENGALURU: Infosys will hire 30,000 people in the next financial year, the lowest in the last three years, reflecting partly the company's growing emphasis on automation and productivity improvements. The number was first mentioned by CEO Vishal Sikka in an investor call earlier this week to discuss the acquisition of US automation company Panaya. Infosys subsequently confirmed the number to TOI.

After decades of low-margin work like server maintenance, India's information technology services firms are moving upscale in search of lucrative contracts for driverless cars and other advanced projects as online innovation changes clients' needs.

Companies from Tata Consultancy Services to Wipro are all joining Infosys in investing in new, high-end technology, industry watchers say. Earlier this week Infosys bought US automation specialist Panaya Inc for $200 million.

Indian IT major Infosys on Monday announced its first major acquisition under new CEO Vishal Sikka by making public a $200 million cash deal to buy the Israeli firm Panaya, Inc., a provider of automation technology for large scale enterprise software management. The deal will be closed by the end of the current financial year.

Infosys’ who have been very conservative in its acquisition strategies over the years said the Panaya deal reflects “execution of its Renew and New strategy to enhance the competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence’’.

Infosys Chief Executive Officer and Managing Director Vishal Sikka on Wednesday confirmed it made its first investment in the start-up space by putting $15 million (close to Rs 94 crore) in a spin-off of DreamWorks Animation.

This is Infosys’s first investment from $500 million innovation fund it had set up last year.

IT services major Infosys today said it has been selected by ICA Gruppen, Sweden's leading retailer, to manage its IT operations.

The contract will help ICA Gruppen reduce cost in stages by SEK 75 million (about Rs 50 crore) starting from 2016 (compared to 2014).

Infosys, the country's second largest information technology (IT) services company, has undertaken an organisational realignment to ensure stronger effectiveness of the "new & renew" strategy laid out by chief executive officer Vishal Sikka.

Among other things, the company has decided to consolidate its delivery functions horizontally, as against the current structure, where delivery teams were in many cases linked to the several business verticals.

Mumbai: After falling for four consecutive sessions, India’s benchmark Sensex rose over 350 points on Thursday, led by gains in shares of information technology and banking companies.

At 2.20pm, Bombay Stock Exchange’s 30-share Sensex was up 1.24%, or 358.52 points, at 29,241.62 points, while the National Stock Exchange’s broader 50-share Nifty was up 1.2%, or 101.50 points, at 8,825.20 points.

BENGALURU: Infosys co-founders Kris Gopalakrishnan and S D Shibulal, along with the company's former board member Srinath Batni, are scripting a startup story.

The trio are co-investing $1 million (Rs 6 crore) in Bengaluru-based e-commerce platform SellerworX Online Services and $2 million (Rs 12 crore) in Mysuru-based clean energy company Vigyanlabs.

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