Bangalore – November 18, 2016
Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has made an investment of DKK 14,920,000 from its Innovation Fund in UNSILO, a Danish artificial intelligence startup focused on advanced text analysis. UNSILO uses a unique combination of machine-learning and natural language processing to analyze large quantities of text and improve the speed and effectiveness of knowledge workers across many industries.
“We see Denmark as a global hub of world-class innovation with talented people, a good education system and a track record of entrepreneurial success. UNSILO have built an impressive semantic search engine with best-in-class text intelligence, which powers a range of advanced business processes. We will partner with UNSILO to bring their artificial intelligence and machine learning technology to our global clients. They join and expanding portfolio of innovative young companies from around the world that Infosys works with to help enterprises drive their digital transformation.” said Ritika Suri, Executive Vice President & Global Head of Corporate Development & Ventures at Infosys.
“We are very excited about the partnership with Infosys. Making sense of any large amount of unstructured text is a huge challenge for many industries. Pairing our ground-breaking technology with Infosys’ deep client relationships and strong capabilities in project delivery and go-to-market will give us a unique opportunity to bring our services to several new industries and expand globally far more quickly,” said Thomas Laursen, Chief Executive Officer at UNSILO.
Springer Nature, one of the world’s largest academic publishers of Scientific, Technical and Medical (STM) content, has been working with UNSILO for several years. “Because scientific language constantly grows and evolves, it is a difficult and time-consuming job to build and maintain consistent terminology and useful ontologies,” says Jan-Erik de Boer, Chief Information Officer at Springer Nature. “Using UNSILO’s fully automated content enrichment technology, we can identify the most descriptive concepts and phrases within any document in our content portfolio, and provide more valuable reading suggestions, even across domains with a highly variable terminology.”
The Danish Minister for Foreign Affairs, Kristian Jensen, welcomed Infosys’ support of the Danish innovation ecosystem, “I am very pleased that the Infosys Innovation Fund's first investment in Europe is placed in Denmark. The investment reflects that Denmark offers an exciting environment for tech startups and is an attractive location for high quality foreign investments into the technologies of the future.”
The investment will be completed upon receipt of regulatory approvals.
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.
Founded in 2012, UNSILO is a Danish artificial intelligence startup focused on advanced text analysis. UNSILO uses a unique combination of machine-learning and natural language processing to analyze large quantities of text and improve the speed and effectiveness of knowledge workers across many industries. With partnerships in academic publishing, intellectual property, and regulatory content, UNSILO delivers workflow and decision support tools for editors, researchers, and sales personnel, as well as end-user services that facilitate faster discovery and improve customer retention. The team behind UNSILO has authored a dozen search-related patents, architected major e-commerce sites, and managed product development teams both in Europe and Silicon Valley.
Visit http://www.unsilo.ai to learn more.
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.
For further information, please contact: PR_Global@infosys.com
|Name of the target entity||UNSILO A/S, a Danish Corporation|
|Whether related party transaction(s) and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired?||No|
|Industry to which the entity being invested into belongs||IT software and consulting services|
|Objects and effects of the investment||UNSILO provides software-based semantic search tool that utilizes artificial intelligence and machine learning to provide advanced text analysis on unstructured data assets.|
|Any governmental or regulatory approvals required||None|
|Indicative time period for completion||Expected to be completed on or before December 15, 2016.|
|Cost of investment||DKK 14,920,000 investment in Series Seed.|
|Percentage of shareholding||A minority holding, not exceeding 20% of the outstanding share capital of the company|
|Brief background||UNSILO was incorporated in 2012 and is based in Aarhus, Denmark. UNSILO develops technology that automatically identifies and extracts key concepts from unstructured data and builds continuous learning hierarchical taxonomies and models that identify meaningful relationships in the data using natural langage processing and machine learning techniques. Currently, UNSILO’s key clients include Science, Technology & Medical (STM) publishers.|