This BSE 200 company has set up a Centre of Excellence dedicated to Metaverse and Web3 solutions; find out more

This BSE 200 company has set up a Centre of Excellence dedicated to Metaverse and Web3 solutions; find out more

Indian Market
by 5paisa Research Team Last Updated: 2022-08-30T12:29:53+05:30

The stock of this company is up by 1.50 % or 52.70 points.  

Coforge is a global digital services and solutions provider, that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. A focus on very select industries, a detailed understanding of the underlying processes of those industries and partnerships with leading platforms provide us with a distinct perspective. Coforge leads with its product engineering approach and leverages Cloud, Data, Integration and Automation technologies to transform client businesses into intelligent, high-growth enterprises. The firm has a presence in 21 countries with 25 delivery centres across nine countries.

On 30 August the company announced the opening of its Centre of Excellence (CoE) for the Metaverse and Web3. The facility will promote interdisciplinary research and identify various use cases using the metaverse and its intersection with digital technologies including blockchain, smart contracts, AI, ML, cognitive, data and analytics, and integration with other enterprise systems.

The company aims to be at the forefront of the immersive experience, real-time presence, decentralized control, and possibilities metaverse & Web3 offer. Moreover, it is also planning to train and upskill over 1000 employees to deliver on the Metaverse and Web3 requirements of its customers. 

Commenting on this announcement, Sudhir Singh, CEO, and Executive Director of Coforge said, “The ability to combine the physical world with the virtual world brings tremendous opportunities in programming the next internet, content, and experiences from the factory floor to the board room. We are excited to engage with the Metaverse, Web3, and related technologies to tap the countless opportunities for innovation they offer in our core verticals of BFS, Insurance, and Travel & Hospitality and in new verticals like Retail, Manufacturing, Healthcare, and Public Sector.” 

On Tuesday, August 30, 2022, the shares of Coforge are up by 1.50% and the scrip is trading at Rs 3564.20. The stock has a 52-week high and low of Rs 6133 and 3224.45, respectively on BSE


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