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    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
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Delayed Quote. Delayed NSE India Stock Exchange - 09/17 07:14:05 am
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Infosys : to establish Digital Technology and Innovation Center in Stuttgart for the Automotive Sector

07/20/2021 | 03:42am EDT
Infosys to establish Digital Technology and Innovation Center in Stuttgart for the Automotive Sector
  • 'Infosys Automotive and Mobility GmbH & Co. KG' will deliver transformation at scale with a focus on decarbonization
  • As part of the strategic partnership between Infosys and Daimler, the center will support the German automotive company on its data center transformation journey to hybrid cloud

Stuttgart, Germany - July 20, 2021

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today announced the launch of its Automotive Digital Technology and Innovation Center in Stuttgart, Germany, building on its strategic commitment to drive innovation and IT infrastructure transformation in the sector.

The new center brings together automotive and IT experts from across Germany into a space for shared knowledge, skills and innovation. As a part of Infosys' partnership with Daimler, automotive IT infrastructure experts based in Germany will transition from Daimler AG to the new Digital Technology and Innovation Center. Encouraging sustainable growth within the German automotive sector, it will provide its customers with tools to meet the country's growing demand for electric vehicles.

Infosys aims to create a gold standard for Germany's automotive and manufacturing companies to accelerate and standardize technology adoption. It will provide training and innovation labs and focus on industry transformation, including the infrastructure required to design future and advanced technologies such as artificial intelligence, automation and electrification. The center will also spotlight Infosys' commitment to championing sustainability, leveraging resources such as a data center operating on 100 percent renewable energy and zero water consumption.

Through the new center Infosys will support leading German automotive company, Daimler AG, strengthen its IT & data center infrastructure, and drive competitive edge in line with its ambitions to standardize, consolidate, scale and transform to Net Zero with seamless customer experience.

Dr.-Ing. Jörg Sommer, formerly Director of Digital Foundation at Daimler has been designated as the CEO of the Digital Technology and Innovation Center in Stuttgart, which is a separate legal entity and officially called Infosys Automotive and Mobility GmbH & Co. KG.

The center promotes a multi-cloud and carbon neutral approach to IT infrastructure transformation, leveraging Infosys Cobalt, a combination of Infosys services, solutions and platforms that supports enterprises in accelerating their cloud journey, alongside other leading cloud providers. Through its cloud approach the center will enable an anytime, anywhere workplace primed to address present and future needs. The center offers Infosys the opportunity to play an instrumental role in the transformation of Daimler as an industry leader, and in turn provides other automotive manufacturers the opportunity to leverage Infosys IP and tools as well as unlock valuable growth opportunities during a crucial time for the automotive sector and growing German economy.

'The Digital Technology and Innovation Center in Stuttgart will provide a wide range of benefits for both Infosys and the German automotive sector. By bringing together the formidable skills and expertise across Germany, this center will support Daimler in its hybrid multi-cloud and AI-driven digital transformation journey to scalability. It will also provide a cloud architecture blueprint for other German manufacturers to emulate as they move through a period of resilient IT transformation. Amidst the rising demand for electric cars, we're committed to supporting the German automotive industry as it addresses these changes in behavior,' said Salil Parekh, Chief Executive Officer, Infosys.

'As software becomes modular and IT infrastructure continues to scale, Daimler will take three simultaneous steps to transform its IT landscape: consolidation, scaling and modernization. Through establishing the Infosys Automotive and Mobility GmbH in Germany, Infosys is committed to grow with us in the automotive industry and provide exciting career opportunities for our employees. The center will also set new standards for cloud and infrastructure services in the automotive industry. We're delighted that through this partnership, Daimler will strengthen its overall technology investment and partnership strategy,' said Jan Brecht, Chief Information Officer, Daimler and Mercedes-Benz.

'We're thrilled to announce the establishment of the Digital Technology and Innovation Center, an exemplary facility providing a testbed for innovation, and critically, a platform for cross-industry expertise and skills transfer. To deliver on new and emerging mobility trends, automotive brands need to be able to scale and deliver innovation to market at speed. Through cutting-edge technologies such as cloud, artificial intelligence, automation, and electrification, the Innovation Center will be a catalyst for accelerating the development and availability of pioneering technology in the market, as well as simplifying and standardizing hybrid cloud stacks across the industry,' said Dr.-Ing. Jörg Sommer, Chief Executive Officer, Infosys Automotive and Mobility GmbH & Co. KG.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements 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 COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, 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, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. 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, 2021. 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 unless it is required by law.

Media contacts:

For further information, please contact:PR_Global@infosys.com

Disclaimer

Infosys Limited published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2021 07:41:06 UTC.


© Publicnow 2021
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Sales 2022 1 184 B 16 073 M 16 073 M
Net income 2022 221 B 2 998 M 2 998 M
Net cash 2022 306 B 4 149 M 4 149 M
P/E ratio 2022 32,2x
Yield 2022 1,89%
Capitalization 7 087 B 96 186 M 96 172 M
EV / Sales 2022 5,73x
EV / Sales 2023 5,01x
Nbr of Employees 267 953
Free-Float 84,8%
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Salil S. Parekh Chief Executive Officer, MD & Executive Director
Mohit Joshi Co-President
Ravi Kumar S. Co-President & Deputy Chief Operating Officer
Nilanjan Roy Chief Financial Officer
Nandan M. Nilekani Non-Executive Chairman
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