Infosys Ltd

Infosys - History

Infosys Ltd is a global technology services firm that defines designs and delivers information technology (IT)-enabled business solutions to their clients. The company provides end-to-end business solutions that leverage technology for their clients including technical consulting design development product engineering maintenance systems integration package-enabled consulting and implementation and infrastructure management services. The company also provides software products to the banking industry. They have developed finacle a universal banking solution to large and medium size banks across India and overseas. Infosys BPO is a majority owned subsidiary. Through Infosys BPO the company provides business process management services such as offsite customer relationship management finance and accounting and administration and sales order processing. The company is having marketing and technical alliance with FileNet IBM Intel Microsoft Oracle and System Application Products. Infosys Ltd is a public limited and India's second largest software exporter company was incorporated in the year 1981 as Infosys Consultants Pvt Ltd by Mr.N.R.Narayana Murthy at Karnataka. The company was started by seven people with the investment of USD 250. The company became a public limited company in the year 1992. The company was the first Indian company to be listed on the NASDAQ at the year 1999. Infosys also forms a part of the NASDAQ-100 index. Continuously in the year 2001 2002 and 2003 the company wins the National award for excellence in corporate governance conferred by the Government of India. In April 2002 Infosys BPO Ltd was incorporated in India to address opportunities in business process management. In the year 2004 the company acquired 100% equity in Expert Information Services Pty Ltd Australia for USD 24.3 million. The acquired company was renamed as Infosys Technologies (Australia) Pty Ltd. In October 2 2004 they set up a wholly owned subsidiary in People's Republic of China named Infosys Technologies (China) Co Ltd. In the year 2005 the company established Infosys Consulting Inc a wholly owned subsidiary in Texas US to add high-end consulting capabilities to their Global Delivery Model.The company was selected as Best Outsourcing Partner by the readers of Waters a publication covering the needs of chief information officers in the capital market firms. In the year 2007 the company increased the stake value in Progeon to 98.9% after acquiring shares from Citicorp International Financial Company. Infosys had taken over Philips' finance and administration business process outsourcing (BPO) centers spread across India Poland and Thailand for USD 28 million. Infosys Technologies has 47% of core business assets stagnating. The company scanning the markets of Europe and Japan for acquisitions in the price bands of USD 200 - USD 300 million to energies their non-linear business strategy as well as to expand its geographic reach. Infosys set up various Special Economic Zone that for the company has an additional tax benefit. They set up another Special Economic Zone unit in Chandigarh which will be eligible for 100 % deduction of profit from exports tax calculation for the first five years followed by 50% deduction for next five years. Infosys has been pursuing their expansion plans over the past few years. The future enhancement of the company is to emerge the developing economies changing the business landscape with help of accessible talent pools and the adoption of non-linear growth model it is a long term strategy. Infosys Technologies Ltd has partnered with ACDI/VOCA for promotes broad-based economic growth and to develop information and communication technology-enabled application to improve efficiencies in the agro supply chain in India. In the year 2008 the company established their first Latin American subsidiary namely Infosys Technologies S de R L de C V in Mexico to improve proximity to their North American clients. They also opened a development center and office for the region in Monterrey Mexico. As of April 2008 the company acquired Internet Protocol (IP) from an Australian company to add more functionality to finacle. The IP that provides a comprehensive set of financial tools to company's existing product line. In July 2008 the company launched ShoppingTrip360 to help retailers and consumer packaged goods (CPG) companies achieve visibility into in-store activity. ShoppingTrip360 is a platform that enables a suite of managed-information services to create a 360-degree view of real time in store shopper and shelf activity. The company was ranked among the top 50 most respected companies in the world by Reputation Institute's Global Reputation Pulse 2009. They have been voted the Most Admired Indian Company in The Wall Street Journal Asia 200 for 10 years in a row since 2000. The company was also listed in the Most Admired Knowledge Enterprises (MAKE) 2008 study and Forbes' Asian Fabulous 50 for the fourth consecutive year.In March 2009 the company incorporated a wholly owned subsidiary in Sweden namely Infosys Technologies (Sweden) AB. In November 2009 the company opened their second Latin America IT Development Center in Mexico offering global near-shore and Latin American clients a full range of information technology (I.T.) services including Business and I.T. Consulting Business Process Outsourcing (BPO) Packaged Solutions Implementation and Infrastructure Management.In November 12 2009 the company and NVIDIA Corp. entered into a partnership to develop Nvidia Cuda to compute unified device architecture and technology-enabled software solutions. Also the company signed a contract with Georgia-Pacific LLC (Georgia-Pacific) a forest and consumer products company to implement its Supply Chain Visibility and Collaboration Suite. In December 2009 the company has set up a wholly owned unit in the U.S. to tap the multibillion dollar opportunities from government projects. The subsidiary called Infosys Technologies Inc will be headquartered in Dallas Texas where the company has most of their operations.In December 14 2009 the company launched Flypp an application platform which will empower mobile service providers to delight digital consumers through a host of ready-to-use experiential applications across the universe of devices and in December 15 2009 they launched Finacle Advizor an integrated platform which helps banks to deliver products and services through a fully assisted self-service channel using existing Internet banking capabilities. Also the company incorporated a wholly owned Brazilian subsidiary namely Infosys Technologia Do Brasil Ltda.During the year 2009-10 Infosys Consulting Inc incorporated a wholly-owned subsidiary Infosys Consulting India Ltd and invested Rs 1 crore in the subsidiary. SETLabs' IP Cell filed 31 patent applications in the United States Patent and Trademark Office (USPTO) and Indian Patent Office. In December 2009 Infosys BPO acquired 100% voting interests in McCamish Systems LLC (McCamish) a business process solutions provider based at Atlanta US. The business acquisition was conducted by entering into Membership Interest Purchase Agreement for a cash consideration of Rs 173 crore and a contingent consideration of Rs 67 crore. In March 2010 the company launched Finacle Treasyry-in-a-Box a rapid implementation framework for an integrated front middle and back office treasury system. During the year 2010-11 the company formally launched their new corporate strategy Building Tomorrow's Enterprise to showcase our plan for leading the services industry into the new era as the next generation global consulting and services company. Infosys Labs' IP Cell filed 91 patent applications in the United States Patent and Trademark Office (USPTO) and the Indian Patent Office. In February 2011 the company incorporated a wholly-owned subsidiary Infosys (Shanghai) Company Ltd. Also they inaugurated their first Software Development Block (I) at their Technopark Campus II (SEZ) in Thiruvanthapuram Kerala. A 1800 seater Software Development Block (II) is also currently under construction at their Technopark Campus II (SEZ) in Thiruvanthapuram Kerala.The name of the company was changed from Infosys Technologies Ltd to Infosys Ltd with effect from June 16 2011.In November 2011 Atlas Copco AB entered into an agreement with the company to handle parts of its financial processes such as accounting to reporting and processing of supplier invoices. The project will affect approximately 230 positions within Atlas Copco and of these Infosys will offer employment to around 70 staff working in the Czech Republic. The transition of services to Infosys is planned to begin on November 16 2011. In December 2011 the company signed a multi-year Transformation and Business IT services contract with Syngenta AG. In a landmark contract that will provide consistency and predictability of service delivery Infosys will consolidate Syngenta's Global Business IT services landscape under a single shared services engagement.In February 2012 Bharti Airtel choose the company as its partner for Airtel Money mobile wallet service by a mobile operator. Under this partnership Infosys WalletEdge the mobile commerce platform will enable the ubiquitous mobile wallet service to support cashless payments and settlements needs of diverse customer segments.In 2013 Infosys begins trading on NYSE Euronext London and Paris markets. Infosys Edge wins the NASSCOM Business Innovation Award for 2013. Infosys presented with `2013 Environmental Tracking Carbon Ranking Leader' awardIn 2014 Infosys announces bonus in the ratio of 1:1In 2015 Infosys Public Services Implements Financial Management Solution for L.A. Care Health Plan to Improve Healthcare Access. Infosys and Cornell University's Center of Hospitality Research Collaborate to Design Industry Research. Infosys wins a contract from Sweden-based ICA Gruppen to manage its IT operations. ICA Gruppen Partners with Infosys to Revitalize its IT Operations. ABN AMRO Selects Infosys as One of the Strategic Partners to Drive its Business Transformation Program. Infosys inks multimillion-dollar pact with ABN AMRO to provide IT services. Infosys signs 5-year agreement with Dutch firm TNT. Infosys Receives Daimler Supplier Award 2014. Infosys Innovation Fund Invests in Air Quality Monitoring Pioneer Airviz. Infosys also signs a multi-year IT infrastructure deal with UK-based department store company House of Fraser Infosys Launches Preventive Maintenance Offering 'Finacle Assure'.