Infosys Widens Footprint in Europe For Next-gen Digital Tech

CIOTechOutlook Team | Saturday, 04 November 2023, 02:53 IST

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Infosys, India's second largest IT services provider, has announced the establishment of a new proximity center in Sofia, Bulgaria, as part of its European expansion for global possibilities centered on next-generation digital technologies. Over the next four years, the new center will enable the Bengaluru-based software exporter to hire local talent and attract, re-skill, and up-skill 500 new employees.
 
“Over the course of the next four years, these new employees will work on global opportunities around next-gen digital technologies including Infosys Cobalt Cloud Solutions, Infosys Topaz AI & Automation, Data and Insights, IoT, 5G, and software engineering, Infosys said in a statement.
 
Infosys is seeing increasing growth in Europe with the second quarter ending September witnessing about 5% revenue growth in constant currency year-on-year as against a muted growth in the US. Last month, Infosys announced its total revenue growth for the quarter rise by 2.3% quarter-on-quarter and 2.5% year-on-year in constant currency at Rs 38,994 crore making a 3.17% increase in net profit at Rs 6,212 crore, as per economic times.
 
“We have seen consistently over the last few quarters, the Europe growth has been stronger than what we have seen in the US, some of that is a function of what we are seeing in the industries… Some of the countries within Europe, we have seen stronger growth,” Salil Parekh, chief executive officer and managing director said.
 
Manufacturing, life sciences, and several retail sectors have contributed to Europe's prosperity, according to him. Bulgaria has established a reputation as an appealing market for IT development as a result of its robust IT infrastructure, large pool of local IT workers, and superior IT knowledge.
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