BENGALURU, India, March 22, 2018 /PRNewswire/ --
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has made a follow-on investment of USD 1.5 million through the Infosys Innovation Fund in Waterline Data Science, a leading provider of data discovery and data governance software. Infosys had made an initial investment of USD 4 million in the company in January 2016.
Waterline Data Science provides data scientists and business analysts a self-service data catalog to help discover, understand and provision data, and an automated data inventory that enables agile data governance across metadata, data quality and data lineage.
The investment is expected to be completed by April 6, 2018, subject to necessary approvals.
Disclosure under SEBI Listing Regulation-
Investment Waterline Data Science Inc., a Delaware Name of the target entity Corporation Whether related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? No. Industry to which the entity being invested into belongs IT software and consulting services Waterline Data Science provides a data inventory and cataloguing solution that helps business analysts and data Objects and effects of the scientists with data discovery and data investment governance. Any governmental or regulatory approvals required None Indicative time period for Expected to be completed on or before completion April 6, 2018. Nature of consideration Cash USD 1.5 million investment in Series C Cost of investment Preferred A minority holding, not exceeding 20% of the outstanding share capital of the Percentage of shareholding company Originally incorporated on December 11, Brief background 2013 with presence in the US
Infosys is a global leader in technology services and consulting. We enable clients in 45 countries to create and execute strategies for their digital transformation. From engineering to application development, knowledge management and business process management, we help our clients find the right problems to solve, and to solve these effectively. Our team of 200,000+ innovators, across the globe, is differentiated by the imagination, knowledge and experience, across industries and technologies that we bring to every project we undertake.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise thrive in the digital age.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2017. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
Margherita Di Cerbo
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SOURCE Infosys Limited