Infosys, through its wholly owned subsidiary Infosys Consulting, is set to acquire 75% of Stater NV — a wholly owned subsidiary of ABN Amro Bank NV— that offers pure-play, end-to-end mortgage administration services in the Netherlands, Belgium and Germany. The cash transaction, which is expected to close in the first quarter of fiscal year 2020, will amount to €127.50 million ($143.53 million), Infosys said.

IT company Infosys Friday said it would invest $10 million (nearly Rs 70 crore) in California-based artificial intelligence-focussed The House Fund II.

"The company announced today that it will be entering into an agreement with The House Fund II, LP, an AI-focused fund targeting start-ups from the University of California, Berkeley, committing to invest $10 million," the company said in a note.

IT company Infosys Friday said it would invest $10 million (nearly Rs 70 crore) in California-based artificial intelligence-focussed The House Fund II.

"The company announced today that it will be entering into an agreement with The House Fund II, LP, an AI-focused fund targeting start-ups from the University of California, Berkeley, committing to invest $10 million," the company said in a note.

Indian entrepreneurs have to move away from being reactive problem solvers to proactive problem solvers as there are so many problems around, Infosys founder N R Narayana Murthy said. The renowned IT industrialist also highlighted areas of opportunities in sectors such as healthcare for entrepreneurs to build unique solutions.

Even as INFO’s revenue growth improves — its FY19 EBIT margin exit at 22- 22.5% followed by wage hikes in 1QFY20, pose a risk to consensus EBIT estimate of 23.4% for FY20. This is a key concern weighing on the stock’s attractiveness. INFO’s recent revival under Salil Parekh in revenue growth came with an EBIT margin decline of 120bp, despite INR/USD depreciating 11% during the same period.

The Securities and Exchange Board of India (Sebi) has accepted Infosys’ consent plea and settled the charges of disclosure lapses pertaining to the severance package paid to the company's former chief financial officer (CFO) Rajiv Bansal.

According to a Sebi order passed on February 15, the IT major has paid Rs 34.35 lakh to the regulator under the settlement proceedings regulation.

NEW DELHI: India's second-largest IT services firm Infosys has set up a digital innovation and design centre in Providence, US, and said it has hired over 100 people in the state of Rhode Island.

This hiring is part of its target of creating 500 jobs in the state by 2022, Infosys has said in a statement.

Continuing with the programme it started in FY18, Infosys on Friday announced buyback of shares worth up to Rs 8,260 crore at Rs 800 per share. The firm is offering the repurchase price at a 16.89 per cent premium over Friday’s closing price of Rs 684.35 on the NSE.

“The board has approved a proposal for buying back equity shares for an amount aggregating up to Rs 8,260 crore, which is less than 15 per cent of the total paid-up share capital and free reserves of the company,” Infosys said.

Bengaluru: Another top-level executive of India's second largest software services company, Infosys has tendered his resignation after close to a two decade-long stint.

Sudip Singh, the global head of the energy, utilities, resources and services unit of Infosys has quit the company.

New Delhi: Concerns about a slowdown in US economy poses the biggest risk to India’s $167 billion information technology (IT) outsourcing industry as experts fear Fortune 1000 companies may cut spending on technology, hurting Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd. Demand for digital services, which includes data crunching and artificial intelligence (AI) powered platforms, is still linked to the overall health of an economy, they say.

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