Infosys (NSE, BSE, NYSE: INFY), a global leader in nextgeneration digital services and consulting, today announced that Gartner Inc. has positioned Infosys as a Leader in its Magic Quadrant for Oracle Cloud Applications Services 2021, Worldwide, for the second consecutive year.
As per Gartner, "Oracle has a "cloud first" product development strategy and is no longer actively selling new installations of on-premises application software. Oracle expects 60% to 70% of its on-premises customers to have moved some portion of their current Oracle applications to Oracle Cloud Applications by the end of 2023."
For the report, global capabilities of 18 Oracle Cloud vendors were assessed on two criteria - completeness of vision and ability to execute. According to Gartner, "Leaders are performing well today, gaining traction and mind share in the market; they have a clear vision of market direction and are actively building competencies to sustain their leadership position in the market."
Dinesh Rao, Executive Vice President and Global Head - Enterprise Application Services, Infosys said, "In our view, this recognition is a testament to our strengths and capabilities in the Oracle Cloud Application Services domain. Our strategic investments in creating industry and domain solutions, global innovation hubs, delivery centres, and talent pool have played a significant role in bolstering our market positioning. By harnessing our Cobalt offerings, we have been able to successfully deliver Oracle Cloud applications-powered solutions for clients across industries. We believe that being acknowledged as a Leader further propels us to help transform businesses into resilient live enterprises."
Infosys Oracle Cloud solutions, part of Infosys Cobalt, helps enterprise transform to a live enterprise by empowering them to deliver a holistic experience and build responsive value chains across their ecosystem with democratized innovation and intuitive decisions that drive business agility and sustainability.
To read more about the report, please visit here.
Gartner, Magic Quadrant for Oracle Cloud Application Services, Worldwide, Katie Gove, Denis Torii, Akshit Malik, Gunjan Gupta, Alan Stanley, 24 May 2021.
Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. GARTNER and MAGIC QUADRANT are registered trademarks and service marks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.
Shares of Infosys Ltd was last trading in BSE at Rs. 1741.7 as compared to the previous close of Rs. 1716.65. The total number of shares traded during the day was 3302251 in over 4446 trades.
The stock hit an intraday high of Rs. 1745 and intraday low of 1722.3. The net turnover during the day was Rs. 5671451049.