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Infosys divests holding in Trifacta for $12 million

Infosys had made a minority investment of $10 million between 2016 and 2019 in Trifacta.

August 30, 2022 / 06:09 PM IST
Infosys was part of Trifacta’s funding round in 2019.

Infosys was part of Trifacta’s funding round in 2019.

Infosys on August 30 announced that it has divested its minority investment in data engineering software company Trifacta for $12 million.

In a stock exchange filing, Infosys said it made a minority investment of $10 million between 2016 and 2019 in Trifacta.

“With reference to the said investment, the Company would like to inform that it has divested its entire holding in Trifacta Inc for ~US$12.0 million. The transaction was completed on August 29, 2022,” the filing read.

In April 2016, Infosys had said that it invested in Trifacta which provides data wrangling software to help non-technical users to transform data for analysis. Infosys was also part of Trifacta’s funding round in 2019.

The investment in Trifacta was made from the IT giant’s innovation fund of $500 million at the time, and at the time it had invested in several startups.

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Earlier this year, Trifacta was acquired by analytics automation company Alteryx.

In the first quarter of FY23, Infosys reported a net profit of Rs 5,360 crore, up 3.2 percent year-on-year but declined 5.7 percent sequentially.

The IT major’s consolidated revenue was up 23.6 percent on a year-on-year basis to Rs 34,470 crore, and on a quarter-on-quarter (QoQ) basis, revenues were up 6.8 percent.
Moneycontrol News
first published: Aug 30, 2022 06:06 pm
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