Bengaluru-based Infosys has divested its entire holding in Trifacta for $12 million, the company said in a filing to the exchanges on Tuesday. The transaction was completed on August 29, 2022.
Infosys had made a minority investment of $10 million in Trifacta during 2016-19, a data engineering software company headquartered in San Francisco, US.
Trifacta, which was founded in 2012, has over the years raised more than $200 million in funding and counts Accel Partners, Greylock Partners, and Ignition Partners, among its investors.
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Data analysts and data scientists have long relied on IT for access or for the preparation of diverse data. As part of the initial investment, Trifacta provided a data wrangling solution for the Infosys Information Platform (IIP) and Infosys’ other platforms and offerings.
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“We see tremendous potential in self-service data preparation solutions like Trifacta to significantly help clients unlock the business value of their diverse and fast-growing big data assets. This investment underscores our commitment to our clients to introduce a complete stack of data management solutions that complement our data management and automation platforms,” Ritika Suri, then senior vice-president of Corporate Development at Infosys, said during the investment announcement in 2016. Suri resigned from Infosys in 2017.
IIP and Trifacta together had aimed to address a broad range of big data use cases across a variety of business solutions, including trade data analysis, regulatory reporting, insurance modeling and predictive maintenance.
