Infosys to invest $0.45 million in TidalScale Inc
Aug 17, 2021
Bengaluru (Karnataka) [India], August 17 : Blue-chip IT major Infosys is making additional investment of USD 0.45 million in California-based TidalScale Inc, taking its total investment in the software-defined-server technology startup to USD 3.45 million.
Infosys had invested USD 1.5 million in TidalScale Inc during 2016. The new investment is intended to be utilised for R&D, business development and working capital needs.
"The company has agreed with TidalScale Inc, leading software-defined-server technology startup, to invest an additional sum of USD 0.45 million (till date the company had invested USD 3 million), taking the cumulative investment to USD 3.45 million as of date) subject to necessary closing conditions," Infosys said in a statement.
The transaction is expected to be complete in second quarter of FY2022.
TidalScale's software helps enterprises to virtualise server for faster deployment with reduced cost and improved in-memory compute performance in private/public/hybrid cloud environment.
Enterprises who are experiencing exponential growth in data see significant value in TidalScale's offering, said Infosys.
