BANGALORE, July 3, 2015 /PRNewswire/ --
Sets Aside US$10m From
Global Innovation Fund for Ireland-based Start-ups
Infosys (NYSE: INFY), a global leader in consulting, technology,
outsourcing and next-generation services, today announced that it
has been selected as a strategic partner by Allied Irish Banks,
p.l.c. (AIB), a financial services group operating predominantly in
the Republic of Ireland and the
UK. Leveraging the momentum of this partnership, Infosys will also
make significant investments in the Republic of Ireland.
(Logo:
http://photos.prnewswire.com/prnh/20130122/589162)
As a strategic partner to AIB, Infosys will provide application
development and management, and transformation and innovation
services. Infosys will also set up a 200-seat facility in
Dublin to house the staff who will
be transferring from AIB as well as any additional staff who will
be appointed locally following recent agreements that Infosys has
signed in the region.
This exciting partnership with AIB is a springboard for Infosys
to expand its services into a new market. Infosys intends to set
aside US$10m from its global
Innovation Fund for Ireland-based
start-ups. Earlier this year, Infosys announced the US$500m Innovation Fund earmarked for investments
in the growth of disruptive new technologies. Infosys is keen
to continue sharing its expertise to assist start-ups that are
developing and enabling these technologies.
Quotes:
Mohit Joshi, Executive Vice
President, Global Head of Financial Services, Infosys
"Our relationship with AIB is the platform that allows us to
create a new relationship with Ireland and its people. We are delighted
to welcome the AIB teams that will transfer to Infosys and we will
ensure that they quickly feel at home with us. Our investment
in the Irish start-up community reflects our belief that
Ireland is a strong and vibrant
nation, home to entrepreneurs who share our vision of technology as
a way to drive growth. We will leverage our broad experience
in Financial Services and other industries to support the digital
transformation journey and strategic growth plans of AIB."
About Infosys
Infosys is a global leader in consulting, technology,
outsourcing and next-generation services. We enable clients, in
more than 50 countries, to stay a step ahead of emerging business
trends and outperform the competition. We help them transform and
thrive in a changing world by co-creating breakthrough solutions
that combine strategic insights and execution excellence.
Visit http://www.infosys.com to see how Infosys (NYSE: INFY),
with US$ 8.7 billion in annual
revenues and 176,000+ employees, is helping enterprises renew
themselves while also creating new avenues to generate value.
Safe Harbor
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, 2015 and our Forms 6- K for
the quarters ended June 30, 2014,
September 30, 2014 and December 31, 2014. 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. Any forward-looking
statements contained herein are based on assumptions that we
believe to be reasonable as of this date. 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.
For further information please
contact:
Asia Pacific
Sarah Gideon
Infosys, India
+91 80 4156 3373
Sarah_Gideon@infosys.com
EMEA
Paul de Lara
Infosys, UK
+44 2075162748
Paul_deLara@infosys.com
Americas
Cristin Balog
Infosys, USA
+1 (650) 320 4126
Cristin_Balog@infosys.com
SOURCE Infosys