DUBLIN (dpa-AFX) - India-based software exporter Infosys Technologies Ltd. (INFOSYSTCH, 500209, INFY) Friday announced that it has been selected as a strategic partner by Allied Irish Banks Plc. (ALBK.L, AIBYY.PK), a financial services group operating mainly in the Republic of Ireland and the UK.
As part of the partnership, Infosys will also make significant investments in Ireland. Infosys intends to set aside $10 million from its global Innovation Fund for Ireland-based start-ups.
As a strategic partner, Infosys said it will provide application development and management, and transformation and innovation services. The company will also set up a 200-seat facility in Dublin to house the staff who will be transferring from AIB as well as any additional staff who will be appointed locally following recent agreements that Infosys has signed in the region.
Earlier this year, Infosys announced the $500 million Innovation Fund earmarked for investments in the growth of disruptive new technologies.
Mohit Joshi, Executive Vice President, Global Head of Financial Services, Infosys said, 'Our investment in the Irish start-up community reflects our belief that Ireland is a strong and vibrant nation, home to entrepreneurs who share our vision of technology as a way to drive growth. We will leverage our broad experience in Financial Services and other industries to support the digital transformation journey and strategic growth plans of AIB.'
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