Bangalore – September 17, 2018: Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has made an additional investment of US$1.5 million through the Infosys Innovation Fund in TidalScale Inc., the company at the heart of the Software-Defined Server revolution. Infosys has previously invested US$ 1.5 million in TidalScale Inc. in 2016 taking the cumulative investment as of date to US$ 3.0 million.
TidalScale’s award-winning Software-Defined Servers deliver in-memory performance at any scale, are self-optimizing, use standard hardware, and are compatible with all applications and operating systems. By enabling organizations to create systems of virtually any size using the commodity servers they already own while requiring no software changes, TidalScale makes it possible for more organizations to draw insights from big data faster, easily and with greater flexibility than ever before. In the process, TidalScale transforms the economics and time constraints of working with big data.
“We are excited to further strengthen our relationship with TidalScale. Their groundbreaking software-defined server technology addresses a key challenge that many enterprises face - to rapidly increase the return on their existing investments in technology infrastructure assets,” said Deepak Padaki, Executive Vice President. “It is especially relevant to dynamically scale the compute power of servers for applications such as big data analytics, which are growing exponentially.”
“It’s an honor to receive a second investment from Infosys, whose reach as a leader in consulting, technology, outsourcing and next-generation services spans 50 countries around the world,” said Gary Smerdon, President and CEO, TidalScale. “At TidalScale, our focus is to solve problems that until now were difficult or impossible to tackle using the usual approaches to scaling. Our customers are discovering that they don’t have to implement costly new hardware or get bogged down in rewriting code so their workloads can run across clusters. With TidalScale, they use their own systems to create tomorrow’s server today. We are excited that Infosys so enthusiastically shares our vision.”
The investment is expected to be completed by September 28, 2018 subject to necessary approvals.
Infosys is a global leader in technology services and consulting. We enable clients in 45 countries to create and execute strategies for their digital transformation. From engineering to application development, knowledge management and business process management, we help our clients find the right problems to solve, and to solve these effectively. Our team of 200,000+ innovators, across the globe, is differentiated by the imagination, knowledge and experience, across industries and technologies that we bring to every project we undertake.
Visit http://www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise thrive in the digital age.
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, 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, 2018. 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. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. 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.
TidalScale is the leading provider of Software-Defined Servers. By right-sizing servers on the fly, TidalScale helps organizations achieve results sooner and at a lower cost than traditional scaling options, while bringing new levels of flexibility to data centers. TidalScale’s award-winning solutions deliver in-memory performance at any scale, are self-optimizing, use standard hardware and are compatible with all applications and operating systems – and they achieve all this with no changes to applications or operating systems. TidalScale transforms the economics of the data center and the traditional time constraints of working with big data. TidalScale is a privately held company with backing from Bain Capital, HWVP, Sapphire Ventures, Infosys, Citrix and Samsung. Learn more at http://www.tidalscale.com.