Infosys doubles investment in US-based TidalScale to $3 million1 min read . Updated: 17 Sep 2018, 06:02 PM IST
Infosys' investment in TidalScale is expected to be completed by 28 September 2018 subject to necessary approvals
New Delhi: Infosys on Monday said it has doubled its investment in US-based software firm TidalScale by putting in an additional $1.5 million (around ₹ 11 crore) through the Infosys Innovation Fund.
“Infosys...has made an additional investment of $1.5 million through the Infosys Innovation Fund in TidalScale Inc., the company at the heart of the software-defined server revolution," the Indian software major said in a statement.
The Bengaluru-based company had previously invested $1.5 million in TidalScale Inc. in 2016. TidalScale has developed software-defined servers that deliver in-memory performance at any scale, are self-optimising, use standard hardware and are compatible with all applications and operating systems.
“We are excited to further strengthen our relationship with TidalScale. Their ground-breaking 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," Deepak Padaki, executive vice-president of Infosys, said.
The investment is expected to be completed by 28 September 2018 subject to necessary approvals, the statement said. “At TidalScale, our focus is to solve problems that until now were difficult or impossible to tackle using the usual approaches to scaling. We are excited that Infosys so enthusiastically shares our vision," Gary Smerdon, president and CEO, TidalScale, said.