Infosys shares were on the rise on Friday after the IT services major inked a deal with Microsoft, to help enterprises with cloud transformation globally.
What Happened? IT services provider Infosys announced a collaboration with Microsoft to help enterprises to build cloud-powered platforms and innovations and help scale them too.
In its Cloud Radar report 2022, Infosys claims that enterprises can add up to $414 billion (₹34,25,117 crore) in net new profits, annually, through “effective cloud adoption.”
The report also shows that adopting the cloud improved speed to market and the ability to discover new revenue streams and resulted in increased profit growth by what Infosys say could be up to 11.2% year-on-year.
Infosys and Microsoft have been collaborators for over two decades already and the extended partnership aims to help enterprises by bringing them Infosys Cobalt cloud offerings and Microsoft's cloud computing technologies, led by Azure, across the business value chain.
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Cobalt was introduced by Infosys back in 2020 as a suite of services, solutions, and platforms to help businesses redesign their enterprise. The offering also helps build new cloud-first capabilities to create seamless experiences in public, private, and hybrid cloud landscapes.
Per Anand Swaminathan, executive vice president, of Infosys, embracing Microsoft technologies has helped "over 300,000 Infosys employees" with hyper-personalised experiences aided by an experiential app, which is available across devices and serves as a hub for information and actions.
"As we continue to shape the future of the industry cloud, we are pleased to bring together our complementary strengths and serve our strategic customers better through Microsoft Azure-powered solutions with Infosys Cobalt," said Anant Maheshwari, president, Microsoft India.
Price Action: Infosys shares were trading 0.4% higher at ₹1,557 early Friday soon after markets opened for trading.
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