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Infosys (INFY) Rides on Digitization Growth and Collaborations

Zacks Equity Research
·3 min read

Infosys INFY has been witnessing solid traction in its digital business, which comprises approximately 50% of its top line. The company's sustained focus on Agile Digital and artificial intelligence-driven Core services is a tailwind. Besides, strong growth in its cloud, Internet of Things, cyber security, and data and analytics services is a key driver.

Infosys is strengthening its core competencies by pursuing strategic collaborations and acquisitions. The company’s alliance strategy is targeted at teaming up with leading technology providers that allows it to cash in on the emerging technologies in a mutually beneficial and cost-competitive manner. In April, it completed the acquisition of Germany-based digital communication and commerce agency, oddity.

The oddity buyout is likely to reinforce Infosys’ digital marketing skills, aiding it to navigate digital transformation for its clients globally. The company will build up its creative, branding and experience design capabilities through this step.

Infosys on a Contract Winning Spree

Back-to-back contract wins are driving Infosys’ top-line performance. In its first-quarter fiscal 2023 results, the company’s revenues jumped 17.5% year over year to $4.44 billion.

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In September, Infosys collaborated with Telenor Norway, a wholly-owned telecommunications operator of Telenor, to accelerate the IT modernization journey in support of the latter’s "Beyond Connectivity" program.

In a separate deal, the company collaborated with Bpost (Belgium Post), a postal operator and e-commerce logistics provider headquartered in Brussels, to provide cloud security solutions to identify and ensure rapid response to suspicious security events. Infosys joined forces with Palo Alto Networks PANW to secure Bpost’s cloud environment by monitoring and utilizing advanced threat hunting capabilities through its Cyber Next solution portfolio.

Infosys implemented Palo Alto’s Cortex XSOAR solution, a comprehensive security orchestration, automation and response platform, to create robust cyber resilience for the mail delivery and e-commerce logistics services of Bpost. PANW’s fully automated response playbooks and artificial intelligence-led predictions will protect Bpost from threats and strengthen its cloud security.

In September, Infosys collaborated with Spirit AeroSystems, Inc., to offer end-to-end aerostructure and systems engineering services for product development of commercial, business jet and emerging aircraft programs.

In first-quarter fiscal 2023, Infosys collaborated with Nu Skin Enterprises NUS, a global leader in beauty and wellness, to help scale its business model exponentially with social commerce-based capabilities.

Infosys’ human-centric digital commerce platform, Equinox, aims to aid Nu Skin to sharpen its focus on creating unique, personalized and innovative consumer engagement. Leveraging Equinox, Nu Skin will be able to deliver shopping experiences to consumers and affiliates across multiple touch points, including websites, mobile apps and smart connected devices.

Before this contract in the first quarter, Infosys collaborated with Rolls-Royce RYCEY to offer research and development services integrated with advanced digital capabilities over the next seven years. Together with RYCEY, the India-based company launched Aerospace Engineering and Digital Innovation Centre in Bengaluru.

The jointly opened aerospace and digital innovation center intends to boost civil aerospace market growth by serving Rolls-Royce's India-based engineering and group business service clients. Combining Rolls-Royce's aerospace and engineering expertise with Infosys' digital services capabilities, the deal is aimed at developing advanced cost-efficient manufacturing engineering services.


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