Infosys Expanding its Operations in Israel
Published By : 11 May 2015 | Published By : QYRESEARCH
India’s second-largest software exporter, Infosys, has started focusing on its operations in Israel as the country evolves as one of the global hubs for technology businesses with its innovation-rich startup ecosystem. Under the leadership of chief executive Vishal Sikka, through a deal worth US$200 million, the technology firm acquired Panaya, an automation technology startup in Israel, in February this year. Inside sources reveal that Jake Klein, appointed as the vice president of corporate development in Israel, has been given the task to oversee the startup investments and acquisitions of the company in the country.
According to reports, Infosys has allocated at least one-fourth of its Innovation Fund worth US$500 million for investments in India and Israel. Klein’s appointment to oversee the company’s Israel operations has been strategic as he had a similar task of helping the expansion of SAP Ventures in Israel, while working as a senior vice president at SAP. After taking the reins of Infosys in his hands, Sikka has been instrumental in bringing the top executives from his former company to oversee key assignments at Infosys. Sikka’s association with the Israel based executive dates back to the days when the former was working on HANA platform for SAP. Since Sikka became the CEO last year, Infosys has been hiring a number of senior level executives from SAP. Abdul Razack, Ritika Suri, S Rajagopalan, Yusuf Bashir, N Budhiraja, Anirban Dey, Kaustav Mitra and other top executives from SAP have joined Infosys in the past nine months. Bashir has been given the responsibility to look after the newly launched Infosys Incubator and Infosys’s startup fund to oversee investments in the U.S., Asia Pacific, Europe, Japan, and India.
Sikka has been closely following the startup hubs in Israel and Silicon Valley as his company is searching for solutions for the digital problems faced by its customers such as Toyota and Bank of America. Infosys is not the only company looking at Israel. Rival firm Wipro has initiated talks with Jerusalem Venture Partners regarding venture capital funds in the country.