Infosys has agreed with ideaForge Technology, leading UAV systems manufacturing company, to invest an additional $1.0 million (earlier, the company had invested $1.5 million in 2016) taking the cumulative investment to $2.5 million as of date), subject to necessary closing conditions.
ideaForge's UAV systems are increasingly being used across a wide spectrum of organisations. Several customers of Infosys have also embraced UAV systems as they digitalise rapidly. The investment is intended to be utilised on R&D, sales, marketing, business development and working capital needs at ideaForge. This is expected to enhance joint capabilities to help Infosys customers better. The transaction is expected to be completed in the fourth quarter of FY21.
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