Infosys exits CloudEndure for US$15.3m
Global IT and outsourcing services firm Infosys has sold its stake in cloud computing company CloudEndure for about US$15.3 million. Infosys announced the divestment over the weekend in its regulatory filing. In 2015, Infosys had picked up a minority stake in CloudEndure for US$4 million. CloudEndure provides cloud migration and cloud-based disaster recovery software. Market demand continues to grow for a new and emerging generation of disaster recovery solutions that can reap the benefits of the cloud and replace aging and legacy-based DR solutions. According to leading research firms, 90% of disaster recovery operations will run in the cloud by 2020. Recently, Infosys and Singapore-based global investment firm Temasek completed a joint venture agreement. Infosys acquired a 60% stake in the JV, while Temasek hold a 40% stake.
