BANGALORE, India, August 3, 2016 /PRNewswire/ --
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has made an investment of US$ 4 million in Cloudyn, a company that provides SaaS solutions for the management and optimization of hybrid, multi-cloud deployments.
The investment will be completed by August 15, 2016.
Disclosure under SEBI Listing Regulation -
Investment Name of the target entity Cloudyn, An Israeli 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 Cloud management and optimization Cloudyn enables enterprises to manage and optimize their hybrid, multi-cloud deployments. The solution provides visibility into usage, performance & cost, coupled with actionable Objects and effects of the recommendations for confident cloud investment growth. Any governmental or regulatory approvals required None Indicative time period for Expected to be completed on August 15, completion 2016 Nature of consideration Cash US$ 4 million investment in Series B-3 Cost of investment Preferred Percentage of shareholding A minority holding Originally incorporated on June 1, 2011 Brief background with presence in the U.S.
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SOURCE Infosys Limited