The IT major on Friday (18 December 2020) announced that it has divested one-third of its holding in Boston-based Whoop Inc for about $10 million.In 2015, Infosys had made a minority investment of $3 million in Whoop, which offers performance optimisation solutions for professional athletes and sports teams.
Whoop s system includes a device worn by athletes on their wrist that continuously measures key strain and recovery variables, and actionable analytics powered by proprietary algorithms that generate intensity and recovery scores. This enables athletes and coaches to gain visibility into the drivers of high performance, guide training and make optimal game day decisions.
Shares of Infosys advanced 2.64% to Rs 1,189.75 on Friday, 18 December 2020. The scrip has jumped 132.78% from its 52-week low of Rs 511.10 hit on 19 March 2020.
IT services major Infosys on Friday said it has divested one-third of its holding in US-based Whoop for about USD 10 million (about Rs 73.5 crore). In 2015, Infosys had announced making a USD 3 million investment in US-based wearable device startup Whoop for a minority shareholding in the company. The company had made a minority investment of USD 3 million during December 2015 in Whoop Inc, the human performance company headquartered in Boston, USA. .The company would like to inform that it has divested one-third of its holding for about USD 10 million, Infosys said in a filing on Friday.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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Infosys divests part of its stake in Whoop for USD 10 million
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Last Updated: Dec 18, 2020, 10:49 PM IST
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In 2015, Infosys had announced making a USD 3 million investment in US-based wearable device startup Whoop for a minority shareholding in the company.
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Infosys on Friday said it has divested one-third of its holding in US-based Whoop for about USD 10 million (about Rs 73.5 crore).
In 2015, Infosys had announced making a USD 3 million investment in US-based wearable device startup Whoop for a minority shareholding in the company.
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Please wait. The company had made a minority investment of USD 3 million during December 2015 in Whoop Inc, the human performance company headquartered in
Infosys Ltd has sold 1/3rd of its investment in Whoop Inc for approx. $10 mn
Posted On: 2020-12-18 07:10:56 (Time Zone: Arizona, USA)
Infosys Ltd had made a minority investment of US$3 Million during December 2015 in Whoop Inc, the human performance company headquartered in Boston, USA. With reference to the said investment, the Company would like to inform that it has divested 1/3rd of its holding for ~US$10 Million.
Shares of INFOSYS LTD. was last trading in BSE at Rs.1189.75 as compared to the previous close of Rs. 1159.1. The total number of shares traded during the day was 739106 in over 17874 trades.