IT services major Infosys said that it has made an additional investment of $0.45 million (around Rs 3.3 crore) in California- based TidalScale. Taking its total investment in the company to $3.45 million.
TidalScale is a software-defined-server technology startup. The company allows enterprises to virtualize server for faster deployment with reduced cost and improved in-memory compute performance in private/public/hybrid cloud environments. The investment is intended to be utilized for R&D, business development and working capital needs.
Infosys had invested in the company in 2016 an amount of $1.5 million and $1.5 million in 2018. Infosys holds a minority stake in TidalScale not exceeding 20 per cent of the outstanding share capital of the company, said Infosys in a regulatory filing.
Source: Business-Standard