Bangalore – December 14, 2016
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has made an investment from its Innovation Fund in ideaForge, an Indian startup focused on Unmanned Aerial Vehicle (UAV) solutions.
ideaForge has built a world-class UAV solution featuring fully autonomous operation, cutting edge fail-safe technology, high endurance, image intelligence with live feed, and support for complex payloads such as thermal and high-resolution imagery. ideaForge’s UAVs have been widely deployed by the Indian Armed Forces for surveillance, crowd monitoring and rescue operations, and offer a compelling solution for commercial applications in verticals such as energy, utilities, telecom and agriculture.
"ideaForge’s high performance UAVs, which have been designed and built in India, have significant potential in industrial use cases. We are looking forward to working with ideaForge and bringing their technology, expertise, and solutions to our clients to unlock new business insights from operational data that has previously been difficult to obtain," said Ritika Suri, Executive Vice President & Global Head of Corporate Development & Ventures at Infosys.
"We are very excited to have Infosys as an investor and a partner for exploring UAV services and solutions for global customers. This partnership will play an important role in our industrial expansion to address a wide variety of data acquisition and analysis needs," said Ankit Mehta, Co-founder and Chief Executive Officer at ideaForge.
The investment is subject to receipt of regulatory approvals and customary closing conditions.
Infosys is a global leader in technology services and consulting. We enable clients in more than 50 countries to create and execute strategies for their digital transformation. From engineering to application development, knowledge management and business process management, we help our clients find the right problems to solve, and to solve these effectively. Our team of 199,000+ innovators, across the globe, is differentiated by the imagination, knowledge and experience, across industries and technologies that we bring to every project we undertake.
Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise thrive in the digital age.
ideaForge is a technology leader in Unmanned Aerial Vehicles (UAVs), delivering reliable platforms with the highest endurance, imagery and intelligence in a portable package. It is renowned for indigenously developing best-in-class, fully autonomous UAVs for surveillance, reconnaissance and industrial applications. Being vertically integrated, the company delivers highly optimized Unmanned Solutions for large-scale problems while also ensuring the lowest total cost of ownership for its customers. ideaForge envisions a world deeply integrated with unmanned systems and is on a mission to create solutions that solve core challenges in that path.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, 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, 2016. 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. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. 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 unless it is required by law.
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