August 17, 2021 12:15 PM
Infosys invests in US-based tech startup TidalScale, Infosys invested an additional $0.45 million in software-defined-server technology startup TidalScale based in California. The IT giant had earlier invested $1.5 million in 2016 and $1.5 million in 2018, amounting to $3.45 million in the startup, Infosys said in a regulatory filing.
Infosys will pick a minority holding, not exceeding 20 per cent of the outstanding share capital of the company. The deal is expected to be completed by Q2 FY22.
Infosys invests in US-based tech startup TidalScale, is expected to use the funding for research and development, business development and working capital needs.
Founded in 2013, TidalScale is an early entrant in the software-defined-server technology space. Its software resides between hardware and operating systems to run a single virtual machine on multiple physical servers using ML to right-size the server automatically.
The software delivers in-memory performance for large or multiple database workloads and requires no changes to applications or OS. It is deployable within minutes in private, public or hybrid cloud environment
“TidalScale’s software helps enterprises to virtualise servers for faster deployment with reduced cost and improved in-memory compute performance in private, public, hybrid cloud environment. Enterprises who are experiencing exponential growth in data see significant value in TidalScale’s offering,” Infosys in the filing.