Infosys partners with Australia based Global Express to look after its technology separation from Toll Holdings
In this collaboration, the IT giant shall drive hybrid cloud-powered innovation and leverage the established blueprints and tools from Infosys Cobalt.
Infosys Ltd, the leading provider of next-generation digital services and consulting, announced today that it has partnered with Global Express, an Australian express logistics company to manage the latter’s technology separation from Toll Holdings. The technological separation comes after a divestment action taken by Toll Holdings Ltd. In this collaboration, the IT giant shall drive hybrid cloud-powered innovation and leverage the established blueprints and tools from Infosys Cobalt.
Infosys Cobalt is a set of services, solutions and platforms for enterprises to accelerate their cloud journey. Moreover, as per the agreement, Infosys will also help Global Express to set up a greenfield technology environment and migrate the latter’s applications and services to a world-leading sustainable and energy-efficient data center and public cloud on AWS.
As per the press release, the Indian IT giant will also manage the end-to-end program. This will enable Global Express’ transformation strategy for its transport and logistics business to deliver an enhanced customer service.
Commenting on this development, Karmesh Vaswani, Executive Vice President and Global Head Consumer, Retail and Logistics, Infosys, said, “Our aim will be to bring an innovative hybrid agile approach to not just holistically separate the technology platforms, but to focus on enabling a modern, secure, and agile platform to support Global express through their digital transformation.”
In the recent quarter Q4FY22, on a consolidated basis, the IT company’s topline increased by 22.67% YoY to Rs 32,276 crore. Similarly, the bottom line increased by 12.15% YoY to Rs 5,695 crore.
The company is currently trading at a TTM PE of 28.06x, against the industry PE of 27.19x. In FY22, the company delivered an ROE & ROCE of 29.39% and 39.96%, respectively.
At 3.04 pm, the shares of Infosys Ltd were trading at Rs 1475.25, an increase of 0.05% from the previous day’s closing price of Rs 1474.55 on BSE. The stock has a 52-week high & low of Rs 1,953.70 and Rs 1,367.20, respectively on BSE.
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