India's Infosys Divests Minority Stake in Cloud Computing Startup CloudEndure for $15.3 Million
Infosys paid $4 million in cash in 2015 for a less than 20% stake in privately-owned CloudEndure, as part of the latter's series B
Lilach Baumer : 2018-12-17T14:40:28..
Bengaluru, India-headquartered digital services and consulting company Infosys ltd. has on Friday signed a deal to divest its shares in cloud computing company CloudEndure Ltd., the company announced in a Monday filing to the National Stock Exchange of India. Infosys paid $4 million in cash in 2015 for a less than 20% stake in privately-owned CloudEndure, as part of the latter's series B. Infosys stated it has agreed to sell its stake for $15.3 million, subject to customary conditions, but did not disclose further details including the identity of the buyer. Founded in 2012, CloudEndure is headquartered in New York with a research and development center in Ramat Gan, in the greater Tel Aviv area. The company develops software for disaster recovery, continuous backup, and live migration. The company raised $18.2 million to date, closing its B round in early 2016. Investors in the company include Dell Technologies Capital, Mitsui & Co., VMware, and Magma Venture Partners.