Aimed at Enhancing an Innovation Ecosystem to Address Industry Challenges Faced by Clients
Bangalore, India - June 14, 2012
Infosys, a global leader in consulting and technology services, today announced that it has signed a Memorandum of Understanding (MoU) with The State of Israel, to establish and enhance cooperation in industrial research and development. This MoU is a part of the ‘Global Enterprise Collaboration Program' developed by the Office of the Chief Scientist of Israel to accelerate innovation through a global ecosystem.
The MoU creates a framework for industrial cooperation between Infosys and Israeli corporations in the emerging technology areas of cloud, information security, sensors, analytics, and sustainability. With a strong global client base across industry segments and proven expertise in driving innovation-led growth for businesses, Infosys will bring valuable insights in defining pertinent challenges and solutions across various industries.
Infosys Labs, the research and innovation arm of Infosys, drives research across the 'Building Tomorrow's Enterprise' mega trends that have the potential to transform client business. Committed to the principle of 'Innovation Co-creation', Infosys Labs strengthens its existing innovation ecosystem of clients, partners and industry consortia through this MoU.
Speaking on the occasion, Subu Goparaju, Senior Vice President and Head of Infosys Labs said, "This collaboration aligns with our vision to bring together different innovation networks from around the world and make them relevant to our clients. At Infosys, we are looking at leveraging the innovation ecosystem in Israel, as part of evaluating early stage technologies that are relevant for clients to build tomorrow's enterprises."
Following the signing of the agreement, Shalom Simhon, the Minister of Industry, Trade and Labor, Government of Israel said, "Our ministry provides the Israeli exporter an array of government-backed tools designated to assist in offering Indian counterparts the best that Israel has to offer in the technology sector. The agreement signed today with Infosys is a prime example of another such tool. The immense potential of the Indian market has not gone unnoticed by Israeli companies and industrialists, and the Ministry of Industry, Trade and Labor works tirelessly in order to realize the trade potential between the two countries for the benefit of both nations."
Avi Hasson, the Chief Scientist of the Ministry of Industry, Trade and Labor said, "We have signed a number of such agreements with many international corporations during the last five years, and the dozens of R&D projects that have evolved from those agreements, testify as to the great interest that foreign corporations express in cooperating with Israeli counterparts right from the R&D phase. The agreements, such as the one that was signed with Infosys, prompt such cooperation and facilitate the convergence of the advantages of both sides into mutually beneficial projects."About Infosys
Many of the world's most successful organizations rely on the 150,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
For more information about Infosys (NASDAQ: INFY), visit www.infosys.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarters ended June 30, 2011, September 30, 2011 and December 31, 2011.These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
For further information, please contact: PR_Global@infosys.com