Infosys divests stake in Unsilo for USD 800,000

Follow us on

IT services firm Infosys on Tuesday said it has divested its shares in Unsilo A/S for about USD 8,00,000 (over Rs 5.70 crore).

"...the minority investment made by the company during 2016 in Unsilo A/S... the company announces that it has, on January 28, 2020, completed the divestment of its shares in Unsilo A/S for a total consideration of approximately USD 0.8 million," Infosys said in a regulatory filing.

In November 2016, Infosys had announced an investment of 14,920,000 Danish Krone (about Rs 14.49 crore) from its Innovation Fund in an artificial intelligence startup Unsilo.

The Danish firm focuses on advanced text analysis. It uses a unique combination of machine-learning and natural language processing to analyse large quantities of text and improve the speed and effectiveness of knowledge workers across many industries.

Also Read | HDFC pitches for one-time loan recast for realty projects

Also Read | 7th Pay Commission: What Central govt employees expect from Budget 2020