BENGALURU: Infosys will open its fourth tech and innovation hub in Hartford, Connecticut, and hire 1,000 American workers by 2022. It inaugurated its first tech hub in Indianapolis, Indiana, followed by Raleigh in North Carolina and a design and innovation hub in Providence in Rhode Island.

The Connecticut hub will have a special focus on insurance, healthcare and manufacturing. It will bring Infosys closer to its Connecticut clients and serve as the global hub to further strengthen its insurtech and health tech efforts.

Global software major Infosys on Thursday said it will soon open a technology and innovation hub in the US state of Connecticut and hire about 1,000 American workers by 2022. “We will open our next technology and innovation hub at Harford in Connecticut and hire 1,000 American workers in the state by 2022,” said the IT major in a statement here.

BENGALURU: Infosys will not be holding its annual strategy brainstorming session Strap (strategy, action and planning) this year. Instead, new CEO Salil Parekh has chosen to make it an ongoing exercise with a smaller group of internal leaders.

Strap was attended by about 200 senior leaders in Infosys’ sprawling Mysuru campus last year. In the years before, even larger numbers would be part of it.

Infosys will delist its American Depository Shares (ADS) from the Euronext Paris and Euronext London exchanges primarily due to lower trading volume, even as the company’s shares will continue to trade on the New York Stock Exchange (NYSE). In a notice to the exchanges, Infosys stated, “The primary reason for seeking the proposed delisting is the low average daily trading volume of Infosys ADS on these exchanges, which is not commensurate with the related administrative requirements.”

BENGALURU: IT customers globally are looking for a broader range of digital technologies and budgets are less of a constraint for sectors like manufacturing, a report by Infosys said.

Banking, the IT sector’s largest customer, is still focused on investing in known priorities such as customer experience and preventing fraud rather than in emerging technologies that could have the most impact over the next three years.

Infosys shareholders have approved the appointment of Salil S Parekh as chief executive officer and managing director of the company, the company has said in a regulatory filing.

As per results of postal ballot and e-voting filed by the IT major, 97.96 per cent shareholders through the physical ballot and electronic mode voted in favour of the appointment of Parekh on February 20, 2018.

Indian information technology giants TCS and Infosys have joined a global drive for tech reskilling of one million workers in the first such IT industry initiative. The exercise, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise (HPE), Pegasystems, PwC, Salesforce, and SAP, aims to bring competitive training content on one platform to serve the greater good.

The initiative will be targeting one million people for training and resource opportunities on the World Economic Forum (WEF) SkillSET portal by January 2021.

DAVOS: Indian IT giants TCSBSE 2.83 % and InfosysBSE 2.33 % have joined a global drive for tech reskilling of one million workers in the first ever such IT industry initiative.

The initiative, whose founding partners also include Accenture, CA Technologies, Cisco, Cognizant, Hewlett Packard Enterprise (HPE), Pegasystems, PwC, Salesforce and SAP, aims to bring competitive training content together on one platform to serve the greater good.

Bengaluru: Infosys Ltd continues to struggle to realize the promised benefits from its three acquisitions.

The firm has shut down Noah Consulting, the company it bought for $70 million in 2015, and transferred all the business to the parent company, valuing the firm at 40% lower than the original purchase price.

Infosys has delivered a subdued performance with its revenue growing by 1% q-o-q (0.8% q-o-q in CC terms) to $2,755 million in 3QFY18, which is a seasonally weak quarter. Its EBIT margin expanded by 10 bps q-o-q, owing to improved operational efficiency and higher utilisation. While volume grew by a decent 1.6% q-o-q, blended billing rate declined by 0.7% q-o-q. From vertical perspective, BFSI continued to remain under stress with revenue growing by a meagre 0.1% q-o-q.

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