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Infosys invests $15 million in DreamWorks' spin-off

Tags: Infosys, Vishal Sikka, Startup, Goldman Sachs Technology, DreamWorks Animation

February 12, 2015 | COMMENTS ( 0 )

Infosys invests $15 million in DreamWorks\' spin-off

India's leading IT service company Infosys has confirmed its first investment in the start-up space by putting $15 million in a spin-off of DreamWorks Animation. This is Infosys’s first investment from $500 million innovation fund it had set up last year.

“They (the spin-off of DreamWorks) have recently brought their amazing animation technology to industries like retail and so on. So we are the only investor in this company,” Sikka said at the Goldman Sachs Technology and Internet Conference held at San Francisco on Tuesday.

Sources informed the spin-off is yet to be named. But Sikka said Infosys is the only investor in the company. California-based DreamWorks Animation is a Nasdaq-listed animation studio which develops animation films.

Last month, Sikka announced expanding the innovation fund by five-fold to $500 million almost half of which will be invested in innovative start-ups in India, he announced subsequently. “At Infosys, we focus on building amazing innovation, as the world around us is going through a very profound transformation. We will do things of that nature and we think the information technology needs of the world require a different type of mindset for startups. More and more the innovations that businesses are looking for are going to come from start-up companies,” he added during the Goldman Sachs event. On acquisition strategy, Sikka said, "Infosys was interested in acquiring innovative but smaller companies having great technologies which it could help to brring to a scale.

In reply to a specific query, Sikka said that Infosys is on track to achieve the industry leading growth in the next 18-24 months time. He however said that a detailed plan would be unveiled in April this year when the company announces the financial numbers of FY15.

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