Infosys opens technology and innovation center in Raleigh

Infosys Limited INFY will soon open its North Carolina Technology and Innovation Hub in Raleigh to spur long-term innovation and create new job opportunities for the tech workforce in the United States.

In the headlines

The new Raleigh hub will primarily focus on providing state-of-the-art artificial intelligence, cloud and big data, advanced analytics and machine learning solutions. Notably, the Center will also support the advancement of co-developed premium solutions for Infosys' key customers in North Carolina and surrounding areas.

Infosys stated that the hub discussed above will help create better employment opportunities in the United States. This, in turn, will boost Raleigh's robust, technology-based economy. This Zacks Rank #2 (Buy) company plans to hire nearly 10,000 employees in the next two years.

The company also announced that the North Carolina Technology and Innovation Hub will provide jobs for nearly 500 Americans over the next two years. In addition, almost 2,000 workers are expected to be hired at the hub by 2021. Notably, Infosys has partnered with North Carolina Community College

System for creating a personalized workforce training program.
The Carolina hub is expected to begin operations in early 2018 and will include a 60,000 square foot facility in Raleigh.

Existing scenario

Infosys is poised to grow thanks to its Renew New program, strong innovation, greater operational efficiency, robust revenue growth and increased cash generation.

However, rising costs, President Trump's anti-immigrant stance and local expansion are major headwinds for the company. Notably, the company's shares lost 6% in a month, while the industry recorded a growth of 3%.

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For the next three to five years, CoStar Group, Inc. CSGP expects EPS growth of 15%.

CSRA Inc. CSRA expects EPS growth of 10% over the same period.

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