Infosys edges higher on investing $4 million in CloudEndure
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Shares of Infosys are up almost 1% at Rs 1,036 on the NSE after the IT major announced that it has made an investment of $4 million in CloudEndure, a startup that provides cloud migration and cloud-based disaster recovery software.
Infosys said that the company has invested $4 million in cash in CloudEndure for acquiring a minority holding, not exceeding 20% of the outstanding capital of the company.
CloudEndure provides enterprise grade cloud migration and cloud-based disaster recovery (DR) software that uniquely supports migration and DR for both on-premise to-cloud and cloud-to-cloud scenarios.
Infosys said that many leading enterprises look to the company for guidance and implementation services associated with large-scale infrastructure transformation projects.
The stock opened at Rs 1,037 and touched an intraday high of Rs 1,042. At 10:45 am, around 600,00 shares were traded on both the stock exchanges.
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