The hedge fund’s stake in Wipro is unlikely to be part of an activist strategy as with Cognizant.
India’s largest IT company gets over 22% of its overall revenue from digital — a number that will be well over $3 billion in the 2018 financial year.
The innovation fund was a key pillar of former Infosys CEO Vishal Sikka’s plans to transform the company. But its investments were not always successful.
Equity analysts are also attempting to parse the impact of tax reform, saying more clarity would come when the companies report their fourth-quarter results.
The Infosys report surveyed 1,000 senior IT and business decision-makers in companies across seven countries. Over half the companies assessed had already invested in deep-learning AI algorithms.
Chris Barbin, in his new role as Global Culture Officer at Wipro, said he will be working with a dedicated team to evolve and advance the worker experience at Wipro.
Wipro will acquire the stake consequent to an issuance of 510 Series A Preferred Units of Denim Group Ltd and 500 Membership units of Denim Group Management LLC.
The IT company in September 2016 informed the US DoJ and US SEC that it was in violation of the US Foreign Corrupt Practices Act due to payments made in India.
Indian IT cos are seeing falling headcounts as automation and a need to create talent overseas makes investing in India headcount far less important.
"The challenge is more at the personal side. Getting wound up and tense about it that was the bigger challenge. It got over and i’m dealing with it on an ongoing basis. "
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