Timeline of Infosys
This is a timeline of Infosys, a Bangalore-based multinational corporation that provides business consulting, information technology and outsourcing services.
|Time period||Development summary|
|1980s||Infosys is established in Pune, India. In 1984 it relocates in Bangalore, where the first computer is established in the town.|
|1990s||In the 1990s, the Indian economy liberalizes, allowing business to grow rapidly in the country. In 1992, the company opens its first international office. In 1993, the company helds its initial public offer and is listed on the stock exchange in India.In 1994, the company helds its initial public offer and is listed on the stock exchange in India. In the mid-90s, Infosys sets up Strategic Business Units to encourage autonomy of operation and generate the next generation of business leaders. It becomes one of the first Indian companies to offer stocks to its employees.|
|2000s||Indian business comes of age and soar, and software companies like Tata Consultancy Services, Infosys and Cognizant become world-famous.|
|2010s||Infosys grows to become the second-largest Indian IT company after Tata Consultancy Services. As of March 29, 2019, its market capitalization is US$46.52 billion. The Standard & Poor's credit rating of the company is A−.|
|Year||Month and date||Event type||Details|
|1968||Competition||Tata Consultancy Services is founded as India's first software services company. Established several years before Infosys, it would grow to a global enterprise with a presence in 46 countries.|
|1981||Founding||Infosys is established by N. R. Narayana Murthy and six engineers in Pune, India, with an initial capital of US$ 250. In the same year, the company achieves its first outsourcing contract with Data Basics Corporation, New York.|
|1982||Competition||Indian multinational corporation Wipro enters the information technology business.|
|1983||Administration||Infosys relocates corporate office to Bangalore. It is one of the first software companies to set up operations in the city that would be recognized as India’s Silicon Valley.|
|1984||Infrastructure||Infosys imports the first computer to Bangalore.|
|1986||Competition||Tech Mahindra is founded as a subsidiary of the Mahindra Group, providing information technology. It is considered among the top 10 competitors of Infosys.|
|1987||International expansion||Infosys opens its first off-shore office in Boston.|
|1990||Competition||Wipro enters into 3rd party R&D services and IT services. It is considered among the top 10 competitors of Infosys.|
|1991||Background||The Indian economy is liberalized. This would dramatically accelerate the growth of Infosys.|
|1992||Service||Infosys becomes the first Indian software house to operate an Offshore Software Development Center (OSDC) for General Electric.|
|1992||International expansion||Infosys opens its first international office in Boston.|
|1992||Administration||Infosys establishes its Quality department.|
|1992||December||Technology milestone||The first 64kbps international private line for any company in India is established between Infosys' office in Boston and its headquarters in Bangalore.|
|1993||February||Financial||Infosys makes an initial public offer.|
|1993–2003||March 1993 – March 2003||Growth||Infosys perceives a compounded annual growth rate of 65% and its revenues jump from US$5 million to US$754 million.|
|1993||June||Financial||Infosys is listed on Indian stock exchanges.|
|1993||Financial||Infosys introduces Employee Stock Options (ESOP) program. The company lists on Indian exchanges and is among first in India to introduce employee stock-option plan, a move to attract and retain talent.|
|1993||November||Certification||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.|
|1994||Administration||Infosys moves corporate headquarters to Electronics City, Bangalore, and opens a Development Center at Fremont.|
|1994||Financial||Infosys launches its first Employee Stock Option Plan (ESOP).|
|1995||International expansion||Infosys enters the European market by opening an office in the United Kingdom. Global development centers are also established in Toronto and Mangalore.|
|1995||Technology milestone||The first video conference is held between Infosys' Boston and Bangalore offices.|
|1995||Service||Infosys sets up electronic business practice.|
|1996||Humanitarian aid||The Infosys Foundation is established as Infosys' Corporate Social Responsibility (CSR) wing. It is a non-profit aimed at supporting the underprivileged sections of society.|
|1996||December 23||Competition||Mumbai-base global IT solutions and services company Larsen & Toubro Infotech is founded. It is considered among the top 10 competitors of Infosys.|
|1997||International expansion||Infosys opens an office in Toronto.|
|1998||Service||Infosys starts Enterprise Solutions (packaged applications) practice.|
|1999||March||Financial||Infosys becomes the first India-registered company to be listed on NASDAQ. The company raises nan additional US$70.38 million by issuing 2.07 million shares under the American Depositary Shares Program.|
|1999||Recognition||Infosys becomes the 21st company worldwide to achieve a CMM Level 5 certification.|
|1999||International expansion||Infosys opens offices in Germany, Sweden, Belgium, Australia, and two development centers in the United States.|
|1999||Subsidiary||Infosys Business Consulting Services launches.|
|1999||Financial||Infosys reaches revenue of US$100 million, and subsequently goes public in the United States with a listing on NASDAQ. Infosys Business Consulting Services is launched.|
|1999||Recognition||Infosys is rated n°6 on the BusinessWorld-Indica poll of India's most respected companies. It is also voted India's most admired company in a survey conducted in the year.|
|2000||Competition||Bangalore-based IT services company Mphasis is founded.It is considered among the top 10 competitors of Infosys.|
|2000||January||Training||Infosys formally establishes its Learning and Development Group (L&D).|
|2000||Partnership||Infosys and Microsoft announce a strategic global relationship.|
|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.|
|2000||Financial||Infosys' revenue doubles in the span of a year, reaching US$200 million.|
|2000||Product||Infosys launches Finacle, an integrated core banking product that leverages internet technologies to drive the operations of a bank.|
|2001||Leadership||N. R. Narayana Murthy is rated among Time Magazine/CNN's 25 most influential businessmen in the world. He is also rated best employer by Business World/Hewitt.|
|2001||International expansion||Infosys opens offices in the United Arab Emirates and Argentina, and a development center in Japan.|
|2002||Leadership||Nandan Nilekani assumes as CEO of Infosys. N. R. Narayana Murthy becomes chairman.|
|2002||Financial||Infosys revenue reaches $500 million.|
|2002||Product||Infosys launches back-office outsourcing services unit, Progeon.|
|2002||Personnel||Infosys hires 15000 recruits in the year, compared to 250 in 1992.|
|2002||Humanitarian aid||Infosys announces plans to set up its first disaster recovery center in Mauritius.|
|2002||Subsidiary||Infosys BPM is established. Based in Bangalore, it is the business process outsourcing subsidiary of Infosys.|
|2003||International expansion||Infosys establishes subsidiaries in China and Australia.|
|2003||Facility||Infosys opens a Development Center in Thiruvananthapuram.|
|2003||December||Acquisition||Infosys acquires Expert Information Services, an IT service provider based in Australia, for US$23 million.|
|2004||February||Recognition||Infosys is among seven international companies, and the only Indian organization, chosen to be in the first annual list of "Top Brands with a Conscience".|
|2004||Education||The Learning&Development Group is combined with the Infosys Leadership Institute, which offers managerial and leadership training.|
|2004||April||Subsidiary||Infosys Consulting Inc. is formed.|
|2004||July||Education||Infosys launches Campus Connect, as an industry-academia partnership, with the purpose to empower engineering colleges to produce "industry-ready" recruits.|
|2004||Partnership||Infosys and Microsoft announce a US$8 million IT transformation initiative, designed to help clients improve business performance and build competitive advantage.|
|2004||Financial||Infosys' annual revenue reaches US$1 billion for the first time.|
|2005||Financial||Infosys launches offer of American Depositary Receipts (ADRs) against existing local shares in US$1 billion deal, at the time the biggest conversion of Indian shares into ADRs.|
|2005||Training||Infosys opens its Global Education Centre (GEC) in Mysore.|
|2006||Financial||Riding on the demand for outsourcing, Infosys annual revenue doubles to US$2 billion in 23 months.|
|2006||March||Education||Fortune magazine visits Infisys GEC and reports that gaining admission to the "Taj Mahal of training centers" is harder than getting into Harvard, with only 1% of applicants being selected at Infosys from over 1.3 million, as opposed to 9% of Harvard.|
|2006||Leadership||N. R. Narayana Murthy retires as chairman after 25 years at the helm of the firm after reaching the company’s retirement age of 60, though he continues as non-executive chairman and mentor.|
|2006||July||Recognition||Infosys is included in the NASDAQ Global Select Market, a new market tier with the highest listing standards in the world.|
|2007||Leadership||Kris Gopalakrishnan assumes role as CEO of Infosys. Nandan Nilekani is appointed Co-Chairman of the Board of Directors.|
|2007||Personnel||Infosys receives over 1.3 million applications and hires fewer than 3% of applicants.|
|2007||Financial||Infosys surpasses US$3 billion in revenues. Staff grows to over 70,000.|
|2008||Acquisition||Infosys announces US$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.|
|2008||Financial||Infosys perceives revenues of at least US$4.18 billion and annual net profits of at least US$1 billion.|
|2008||November 19||Recognition||Infosys is selected as a member of The Global Dow, an index of the most innovative, vibrant and influential corporations from around the world.|
|2009||December||Acquisition||Infosys acquires McCamish Systems, a U.S. insurance and financial services provider, for US$ 38 million.|
|2010||Financial||Infosys surpasses US$5 billion revenue mark.|
|2010||Training||Infosys' GEC II (Global Education Centre) is innaugurated, increasing capacity to develop 14,000 employees simultaneously.|
|2010||April||Partnership||Infosys signs partnership with Microsoft worth US$ 189 million over three years, with a possible expansion to US$ 240 million. A deal calls for Infosys to manage all Microsoft’s IT services worldwide.|
|2011||Leadership||Narayana Murthy becomes Chairman Emeritus of Infosys, while incumbent COO S.D. Shibulal assumes as the CEO and MD succeeding Kris Gopalakrishnan.|
|2011||February||Legal||Palmer v. Infosys case: Infosys project manager Jack B. Palmer files a case against the company alleging that Infosys was writing false invitation letters for B1 business visas for Indian employees. The short-term Business Visa (B-1) is meant for employees who travel to consult with associates, attend training or a convention and not for full-time jobs. In August 2012, this case would be dismissed by a US Judge.|
|2011||Legal||Infosys announces having received a subpoena from a grand jury in a United States district court that requires the company to provide certain documents and records related to B1 business visas.|
|2012||January||Acquisition||Infosys acquires Portland Group, an Australian strategic sourcing and category management provider, for AUD 37 million.|
|2012||Recognition||Infosys is ranked by Forbes among the most innovative companies.|
|2012||Legal||Infosys announces 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.|
|2012||September||Acquisition||Infosys acquires Lodestone Holding AG, a Swiss management consultancy provider, for US$345 million.|
|2012||Legal||Infosys reports that the United States Department of Homeland Security (DHS) has found errors in the I-9 forms the company filed with the Department. The Form I-9 is used by an employer to verify an employee’s identity and to establish that the worker is eligible to accept employment in the United States.|
|2014||July||Leadership||Vishal Sikka assumes as Infosys CEO, replacing S. D. Shibulal.|
|2014||December||Infosys gifts Apple iPhone 6s smartphones to its top 3,000 employees in a bid to curb the high rates of attrition in the software industry.|
|2013||October 29||Legal||Infosys is fined US$35 million by the United States Government after an investigation by the Department of Homeland Security and the State Department found that is used inexpensive, easy-to-obtain B-1 visas with the purpose to cover short business visits, instead of H-1B visas which are harder to get.|
|2014||July 1||Subsidiary||Infosys establishes EdgeVerve Systems. Based in Bangalore, it focuses on enterprise software products for business operations, customer service, procurement and commerce network domains.|
|2015||March||Acquisition||Infosys acquires Israeli automation technology provider Panaya, for US$200 million.|
|2015||April||Acquisition||Infosys acquires U.S. digital experience solutions provider Skava, for US$120 million.|
|2015||November||Acquisition||Infosys acquires U.S. information management consulting services Noah-Consulting, for US$70 million.|
|2016||Financial||Infosys annual revenue reaches US$10 billion.|
|2016||April||Partnership||In the United States, 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.|
|2017||Personnel||Infosys total personnel reaches 194,044 employees, a a 10.14% increase from 2015.|
|2017||April||Acquisition||Infosys acquires U.S. software company Skytree.|
|2017||August||Acquisition||Infosys acquires UK digital product and customer experience studio Brilliant Basics, for GBP 7.5 million.|
|2017||Personnel||Infosys total personnel reaches 200,364 employees, a 3.26% increase from 2016.|
|2018||October||Acquisition||Infosys acquires Finnish Salesforce partner Fluido Oy for EUR 65 million.|
|2018||Personnel||Infosys total personnel reaches 204,107 employees, a 1.87% increase from 2017.|
|2018||October||Competition||Source claims Noida-based multinational information technology service and consulting company HCL Technologies aims to overtake Infosys in revenue in 5 years. Acquisitions and intellectual property partnerships would drive most of the incremental growth.|
|2019||January||Acquisition||Infosys acquires U.S. advertising and creative strategy services provider WongDoody, for US$75 million.|
|2019||March 29||Financial||Infosys' market capitalization stands at US$46.52 billion.|
|2019||March||Personnel||As of date, Infosys has a total of 228,123 employees, out of which 37% are women. Out of its total workforce, 79% are software professionals, 16% are working in its BPM arm and remaining 5% work for support and sales.|
|2019||April||Acquisition||Infosys acquires Netherlands-based mortage services provider Stater N.V., for EUR 127.5 million.|
|2019||Personnel||Infosys total personnel reaches 228,123 employees, a 11.77% increase from 2018.|
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- ↑ 1.0 1.1 Globalization of Professional Services: Innovative Strategies, Successful Processes, Inspired Talent Management, and First-Hand Experiences (Ulrich Bäumer, Peter Kreutter, Wolfgang Messner ed.).
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 Leadership @ infosys (Matt Barney ed.).
- ↑ "Infosys to offer incentive to select executives in a bid to attract and retain talent". economictimes.indiatimes.com. Retrieved 29 October 2019.
- ↑ "2010s: The decade is ending on a sour note for Indian economy". timesofindia.indiatimes.com. Retrieved 29 October 2019.
- ↑ "Top 10 Information Technology (IT) Companies in India 2019". mbaskool.com. Retrieved 30 October 2019.
- ↑ "Forbes 2017 Global 2000". Forbes. Retrieved 30 October 2019.
- ↑ "Infosys Market Cap (INFY) – YCharts". Ycharts.com. 2019-06-20. Retrieved 2019-06-20.
- ↑ "S&P upgrades TCS, Infosys, Wipro to 'A−' from 'BBB+'". The Economic Times. 13 December 2013. Archived from the original on 16 December 2013. Retrieved 29 October 2019.
- ↑ "Our Timeline: The Complete Story, Tata group". tata.com. Retrieved 18 September 2019.
- ↑ 10.00 10.01 10.02 10.03 10.04 10.05 10.06 10.07 10.08 10.09 10.10 10.11 10.12 10.13 10.14 10.15 10.16 10.17 10.18 10.19 10.20 "The Infosys timeline: $250 gamble to $10 billion sweepstake". thehindu.com. Retrieved 13 September 2019.
- ↑ 11.00 11.01 11.02 11.03 11.04 11.05 11.06 11.07 11.08 11.09 11.10 11.11 11.12 11.13 11.14 11.15 "TIMELINE-Key events for Infosys since inception". reuters.com. Retrieved 13 September 2019.
- ↑ 12.0 12.1 "Wipro". wipro.com. Retrieved 11 November 2019.
- ↑ 13.00 13.01 13.02 13.03 13.04 13.05 13.06 13.07 13.08 13.09 13.10 13.11 13.12 13.13 13.14 13.15 13.16 13.17 13.18 13.19 13.20 13.21 13.22 13.23 13.24 13.25 13.26 13.27 13.28 13.29 13.30 13.31 13.32 13.33 13.34 "History of Infosys". slideshare.net. Retrieved 13 September 2019.
- ↑ "Tech Mahindra Ltd.". ndtv.com. Retrieved 11 November 2019.
- ↑ 15.0 15.1 15.2 15.3 "Infosys's Competitors, Revenue, Number of Employees, Funding and Acquisitions". owler.com. Retrieved 11 November 2019.
- ↑ "Larsen & Toubro Infotech Ltd.". economictimes.indiatimes.com. Retrieved 12 November 2019.
- ↑ "Mphasis". insurancehound.co.uk. Retrieved 12 November 2019.
- ↑ "Infosys BPM". crunchbase.com. Retrieved 18 October 2019.
- ↑ "Infosys to buy Australian firm Expert for $22.9 m". The Hindu. 19 Dec 2003. Retrieved 15 September 2019.
- ↑ "Infosys Media Release – Infosys announces agreement to acquire Expert" (PDF). Infosys. 18 Dec 2003. Retrieved 15 September 2019.
- ↑ "Infosys among seven global brands with a conscience". infosys.com. Retrieved 10 November 2019.
- ↑ "Infosys Technologies Selected as a Member of The Global Dow". infosys.com. Retrieved 29 October 2019.
- ↑ "Infosys BPO to acquire US company McCamish". Deccan Herald. 12 Nov 2009. Retrieved 15 September 2019.
- ↑ "Microsoft Outsources IT to Infosys". cio.com. Retrieved 29 October 2019.
- ↑ "Who is Infosys whistleblower Jack Palmer?". ndtv.com. Retrieved 12 November 2019.
- ↑ "Infosys Vs Jay Palmer: US Judge dismisses Palmer's case against Infosys". forbesindia.com. Retrieved 12 November 2019.
- ↑ "Infosys BPO looking for buyouts to double its revenues to $1 bn". The Economic Times. 17 July 2012. Retrieved 7 October 2017.
- ↑ "Infosys BPO to buy Australia's Portland Group". The Hindu Business Line. 20 Dec 2011. Retrieved 15 September 2019.
- ↑ "Infosys acquires Swiss firm Lodestone for Rs. 1,925 crore". The Hindu. 10 September 2012. Retrieved 15 September 2019.
- ↑ "Infosys under US security scanner for erroneous employee verification". ndtv.com. Retrieved 29 October 2019.
- ↑ "Vishal Sikka to replace S D Shibulal as Infosys CEO on Friday". indiatoday.in. Retrieved 29 October 2019.
- ↑ "Infosys rejig: Narayana Murthy out, Vishal Sikka in". indiatoday.in. Retrieved 29 October 2019.
- ↑ "Infosys to pay $34m penalty over US visa probe". ft.com. Retrieved 29 October 2019.
- ↑ "Infosys faces record US fine of $35 million in visa probe". livemint.com. Retrieved 29 October 2019.
- ↑ "Infosys Fined $35M For Illegally Bringing Programmers Into US On Visitor Visas". yro.slashdot.org. Retrieved 29 October 2019.
- ↑ "Edgeverve is born". Business Standard. November 17, 2014. Retrieved 11 December 2015.
- ↑ "EdgeVerve". crunchbase.com. Retrieved 18 October 2019.
- ↑ "Infosys buys automation technology startup Panaya, deal valued at Rs 1200 crore". The Economic Times. 17 Feb 2015. Retrieved 7 October 2017.
- ↑ "Infosys' $200 million Israeli software company Panaya is in the eye of the storm". The Economic Times. Retrieved 15 September 2019.
- ↑ "Infosys Completes Acquisition of Skava". Infosys Limited. 4 June 2015. Retrieved 15 September 2019.
- ↑ "Infosys completes Skava acquisition for $120 million". The Economic Times. 4 June 2015. Retrieved 15 September 2019.
- ↑ "Infosys completes acquisition of Noah Consulting". Economic Times.
- ↑ "Infosys Foundation USA Partners With the National Science Foundation and DonorsChoose.org to Pioneer a New Model of Public-Private-Community Collaboration for Computer Science Education". prnewswire.com. Retrieved 29 October 2019.
- ↑ 44.0 44.1 44.2 44.3 "Infosys: Number of Employees 2006-2019". macrotrends.net. Retrieved 29 October 2019.
- ↑ "Skytree". Crunchbase. Retrieved 15 September 2019.
- ↑ "Infosys is reaching for the sky with holistic automation strategy". Horses for Sources. 26 April 2017. Retrieved 15 September 2019.
- ↑ "Infosys completes Brilliant Basics acquisition". Money Control. 11 September 2017. Retrieved 15 September 2019.
- ↑ "Infosys Consulting buys Finnish Salesforce partner Fluido Oy for €65 million". Consultancy.eu. 17 September 2018. Retrieved 15 September 2019.
- ↑ "HCL Technologies aims to overtake Infosys in revenue over the next 5 years". business-standard.com. Retrieved 11 November 2019.
- ↑ "Wongdoody Joins Infosys". www.wongdoody.com. Retrieved 15 September 2019.
- ↑ "Infosys Market Cap (INFY) – YCharts". Ycharts.com. 2019-06-20. Retrieved 17 October 2019.
- ↑ "Infosys Limited spends over INR 18 crores under its CSR initiatives; focuses on healthcare & relief programs". csrbox.org. Retrieved 29 October 2019.
- ↑ 53.0 53.1 "Investor Sheet". infosys.com. Retrieved 15 September 2019.