Difference between revisions of "Timeline of Infosys"

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! Time period !! Development summary !! More details
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| 1990s || In the mid-90s, Infosys sets up Strategic Business Units to encourage autonomy of operation and generate the next generation of business leaders.<ref name="Leadership  infosys"/>

Revision as of 18:13, 13 September 2019

This is a timeline of FIXME.

Big picture

Time period Development summary More details
1990s In the mid-90s, Infosys sets up Strategic Business Units to encourage autonomy of operation and generate the next generation of business leaders.[1]

Full timeline

Year Month and date Event type Details
1981 " Infosys is established by N. R. Narayana Murthy and six engineers in Pune, India, with an initial capital of US$ 250. The company strikes its first outsourcing contract with Data Basics Corporation, New York."[2] " Infosys is set up by N.R. Narayana Murthy and six other engineers in Pune, in western India, with initial capital of $250 mostly borrowed from their spouses."[3]
1983 "Relocates corporate office to Bangalore."[2] " Relocates corporate headquarters to southern Indian city of Bangalore, one of the first software companies to set up operations in the city that becomes India’s Silicon Valley."[3]
1987 " Opens first off-shore office in Boston, U.S.A"[2]
1991 Background The Indian economy is liberalized. This would dramatically improve Infosys' fortunes.[1]
1992 Infosys becomes the first Indian software house to operate an Offshore Software Development Center (OSDC) for General Electric.[1]
1992 Infosys opens its first international office in Boston.[1]
1992 Infosys establishes its Quality department.[1]
1992 December The first 64kbps international private line for any company in India is established between Infosys' office in Boston and its headquarters in Bangalore.[1]
1993 February Infosys makes an initial public offer.[1]
1993 June Infosys is listed on Indian stock exchanges.[1]
1993 "Introduces Employee Stock Options (ESOP) programme, and also takes the plunge with an Initial Public Offering (IPO)."[2] "Lists on Indian exchanges and is among first in India to introduce employee stock-option plan, a move to attract and retain talent."[3]
1993 November Infosys obtains the ISO 9001/TickIT certification. Within a week of the certification, work begins towards attaining Level 4 of the Capability Maturity Model (CMM) instituted by the Software Engineering Institute.[1]
1994 "Corporate headquarters shifted to new campus in Electronics City, Bangalore."[2]
1994 Infosys moves corporate headquarters to Electronics City, Bangalore, and opens a Development Center at Fremont.[4]
1994 Infosys launches its first Employee Stock Option Plan (ESOP).[1]
1995 " Forays into the European market by opening an office in the U.K. Global development centres are also set-up in Toronto and Mangalore."[2]
1995 "Infosys opens its first European office in the United Kingdom and Global Development Centers in Toronto and Mangalore"[4]
1995 "Infosys sets up e-Business practice."[4]
1996 " Infosys Foundation, the Corporate Social Responsibility (CSR) wing, is established."[2]
1996 "The Infosys Foundation is established"[4]
1997 "Infosys opens an office in Toronto"[4]
1998 "Starts Enterprise Solutions (packaged applications) practice."[2] "Infosys starts enterprise solutions (packaged applications) practice."[4]
1999 Infosys becomes the 21st company worldwide to achieve a CMM Level 5 certification.[4]
1999 "Infosys opens offices in Germany, Sweden, Belgium, Australia, and two development centers in the United States."[4]
1999 "Infosys Business Consulting Services is launched."[4]
1999 "Touches revenue of $100 million, and subsequently goes public in the U.S with a listing on NASDAQ. Infosys Business Consulting Services is launched."[2] " Becomes first Indian company to list on Nasdaq , raising the profile of the Indian outsourcing industry in the United States."[3]
2000 International expansion Infosys opens offices in France and Hong Kong, a global development center in Canada and the United Kingdom, and three development centers in the United States.[4]
2000 "Revenue doubles in the span of a year, touching $200 million."[2]
2000 "Infosys relaunches Banks 2000, the universal banking solution from Infosys, as Finacle."[4]
2001 "Narayana Murthy is rated among Time Magazine/CNN's 25 most influential businessmen in the world. Rated best employer by Business World/Hewitt."[2]
2001 International expansion Infosys opens offices in the United Arab Emirates and Argentina, and a development center in Japan.[4]
2002 "Nandan Nilekani takes over as CEO from Narayana Murthy."[2] "Narayana Murthy hands over chief executive role to co-founder Nandan Nilekani. Murthy becomes chairman. Revenue reaches $500 million. Company launches back-office outsourcing services unit, Progeon."[3]
2003 Infosys establishes subsidiaries in China and Australia.[4]
2003 Infosys opens a Development Center in Thiruvananthapuram.[4]
2004 "Annual revenue touches $1 billion for the first time. Infosys Consulting Inc. is launched."[2]
2005 " Launches offer of American Depositary Receipts (ADRs) against existing local shares in $1 billion deal, at the time the biggest conversion of Indian shares into ADRs."[3]
2006 "Riding on the demand for outsourcing, annual revenue doubles to $2 billion in 23 months. It had taken the company 23 years to get to the first billion in revenues. Narayana Murthy retires on turning 60. He continues as Chairman and Chief Mentor of Infosys."[2]
2006 "Murthy steps down as chairman after 25 years at the helm of the firm after reaching the company’s retirement age of 60, continues as non-executive chairman and mentor."[3]
2007 "Kris Gopalakrishnan takes over as CEO. Mr. Nilekani is appointed Co-Chairman of the Board of Directors."[2] " Infosys co-founder and chief operating officer Kris Gopalakrishnan takes over as chief executive from Nilekani, who takes up the role of co-chairman."[3]
2007 Infosys receives over 1.3 million applications and hires fewer than 3% of applicants.[4]
2007 Infosys surpasses US$3 billion in revenues. Staff grows to over 70,000.[4]
2008 "Announces $700 million-plus bid to acquire British consulting firm Axon, but drops out of race after smaller domestic rival HCL Technologies makes a higher offer."[3]
2008 Infosys perceives revenues of at least US$4.18 billion and annual net profits of at least US$1 billion.[4]
2009 "The chief executive of Infosys’s back-office outsourcing arm, Amitabh Chaudhry, quits in rare departure by senior official. Company’s headcount surpasses 100,000. Co-chairman Nandan Nilekani resigns to join Indian government to launch nationwide biometric identity card programme."[3] "Employee strenght grows to over 100000"
2009 "Infosys is selected as a member of The Global Dow"
2010 " Infosys crosses $5 billion revenue mark."[2][3]
2011 " A boardroom reshuffle sees Narayana Murthy hand over chairmanship to K.V. Kamath while S.D. Shibulal, the incumbent COO, takes over as the CEO and MD from Kris Gopalakrishnan. Narayana Murthy becomes Chairman Emeritus."[2] "Co-founder and chief operating officer S.D. Shibulal named chief executive and his predecessor becomes executive co-chairman. Murthy retires as non-executive chairman and veteran banker K.V. Kamath, an independent director of Infosys, takes over as non-executive chairman. Board member and human resources chief T.V. Mohandas Pai quits."[3]
2011 " Says received a subpoena from a grand jury in a U.S. district court that requires the company to provide certain documents and records related to B1 business visas. B1 business visas allow companies to send their employees to the United States for short-term business purposes."[3]
2012 "Forbes ranks Infosys amongst the most innovative companies."[2]
2012 "Heads of its business units serving the finance and manufacturing sectors swap jobs, a sign that both are contenders to take the chief executive’s post when it opens in 2015."[3]
2012 "2012 - Says it has been told by the U.S. Attorney’s office that it and some staff are targets of investigation over its sponsorship and use of short-term U.S. business visas."[3]
2012 "Says under scrutiny from U.S. Department of Homeland Security for likely errors in employer eligibility documents of its staff working in the United States."[3]
2014 " Vishal Sikka replaces Mr. Shibulal as the first non co-founder CEO. The board of directors hike the dividend pay-out ratio to up to 40% of post-tax profits. Four of the company's co-founders sell shares worth $1.1 billion, cashing in on gains accrued after the stock value surged 20% since Mr. Sikka’s appointment. In December 2014, the company gifts Apple iPhone 6s smartphones to top 3,000 employees in a bid to curb the high rates of attrition in the software industry."[2]
2015 " Infosys acquires Panaya Inc., Skava and Noah Consulting LLC. The company pledges $250 million to its 'Innovate in India' fund to foster fledgling start-ups. In February 2015, the Infosys board more than doubles Mr. Sikka's compensation to $11 million. Rajeev Bansal, CFO, resigns to join cab-aggregator, Ola. His severance pay is set at ₹23.02 crore."[2]
2016 " Annual revenue touches $10 billion.[2]

Infosys Foundation USA collaborates with National Science Foundation and DonorsChoose.org to chart a public-private-community model for promoting computer science education, and digital literacy.[2]

In a board meeting, only 23.57% votes are cast in favour of Mr. Sikka remaining as CEO. Mr. Bansal's disproportionately high severance pay is questioned by market analysts. In September 2016, Infosys announces the cessation of the release of the residual amount of ₹17.38 crore in Mr. Bansal's severance package, after the founders expressed displeasure at how the situation was handled."[2]


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