IT giant Infosys said it has doubled its investment in US-based software firm TidalScale. It will put an additional USD 1.5 million (around Rs 11 crore) through the Infosys Innovation Fund.
The Indian software major said in a statement, “Infosys…has made an additional investment of USD 1.5 million through the Infosys Innovation Fund in TidalScale Inc, the company at the heart of the software-defined server revolution,”
The Bengaluru-headquartered company had previously invested USD 1.5 million in TidalScale Inc in 2016. TidalScale has developed software-defined servers that deliver in-memory performance at any scale, are self-optimizing, use standard hardware and are compatible with all applications and operating systems.
Executive vice president of Infosys, Deepak Padaki, said “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”.
The investment is expected to be completed by September 28, 2018 subject to necessary approvals, the statement said.
President and CEO of TidalScale, Gary Smerdon, 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”.