BENGALURU: Infosys invested Rs 3,302 crore to acquire or take majority stake in some companies during the previous financial year, its annual report showed, as the company moved to extend capabilities into emerging technologies and focused industry sectors.

Earlier in February, Infosys Nova Holdings LLC, a wholly owned subsidiary of the Rs 90,971-crore software services exporter, acquired US-based Salesforce advisor Simplus for about Rs 1,892 crore ($250 million).

In April last year, Infosys Consulting Pte acquired 81% of voting interests in HIPUS for about Rs 206 crore. HIPUS is a wholly owned subsidiary of Japan’s Hitachi Ltd and handles procurements for the Hitachi Group. In May 2019, Infosys Consulting Pte Ltd, another wholly owned subsidiary, completed the acquisition of 75% stake in Stater, a completely owned subsidiary of the Netherlands-based ABN AMRO Bank, for nearly Rs 1,195 crore. Stater brings European mortgage expertise and a robust digital platform to the table, Infosys said at the time.

In financial year 2018-19, Infosys spent a combined Rs 1,074 crore to acquire WongDoody, a company focused on digital advertising services, and Fluido, a Salesforce advisor and consulting focused firm. The company put in an additional Rs 9 crore in WongDoody in financial year 2019-20. “We invested in, and built strong partnerships with, all cloud hyperscalers and SaaS providers. We expanded our capabilities in the Salesforce ecosystem through acquisitions of Fluido in the Nordics and Simplus in the US,” it said.

Separately, Infosys said it had also liquidated some of its subsidiaries during the last financial year. It liquidated Panaya Japan Co. Ltd, a wholly owned subsidiary of Panaya Inc and Infosys Technologies (Australia) Pty, with effect from October 31 last year. Panaya was reclassified as held-for-sale by the company. In March 2018, the company recorded a reduction in fair value of Panaya to Rs 589 crore. A year later it saw a further reduction in fair value to about Rs 265 crore.

Infosys said at the beginning of last fiscal year that it had 25 direct subsidiaries and 34 step-down subsidiaries. As on March 31 this year, it reported 23 direct subsidiaries and 52 step-down subsidiaries.

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