Infosys Limited (NYSE: INFY) shares dropped in price, after disclosing a partnership with Siemens to develop advanced IoT engineering solutions on MindSphere.
A news release put out Thursday explains that MindSphere connects real things (e.g. industrial machinery and equipment) to the digital world and provides powerful industry applications and digital services to help drive business success.
This partnership between Infosys and Siemens will enable customers to improve competitiveness by leveraging the power of data generated by their devices. Data analytics will enhance efficiencies through capabilities like predictive maintenance and end-to-end factory visibility.
Customers will also benefit by monetizing new data-driven services. The initial focus will be on customers in the manufacturing, energy, utilities, healthcare, pharmaceutical, transportation and logistics industries.
Infosys will offer end-to-end implementation services for Mindsphere, as well as post-implementation support.
The India-based company will leverage its repository of Industry 4.0 accelerators (e.g. maturity assessment framework) as well as platform tools (e.g. edge connectivity, AR/VR tools) and ready-made apps (e.g. factory visibility) to quickly onboard customers onto the platform, thereby accelerating the value that customers reap from their assets.
Infosys President Ravi Kumar said, "Our new partnership with Siemens for MindSphere perfectly fits into our vision of seeing the physical and digital worlds converge. There is an increasing need for enterprises to accelerate their digital journeys and to deliver new and innovative services.
“This partnership will help us bring exciting solutions to our customers that combine strategic insights and execution excellence."
Shares fell Thursday slid 66 cents, or 3.3%, to $19.03
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