Latest news with #MikeShort
Korea Herald
17-04-2025
- Business
- Korea Herald
Infosys to Acquire Leading Energy Consulting Company, MRE Consulting
Acquisition to strengthen energy and commodity trading and risk management (E/CTRM) capabilities for Infosys BENGALURU, India and HOUSTON, April 17, 2025 /PRNewswire/ -- Infosys (NSE, BSE, NYSE: INFY) a global leader in next-generation digital services and consulting, today announced a definitive agreement to acquire MRE Consulting Ltd. ('MRE Consulting'), a technology and business consulting service provider. This strategic investment brings newer capabilities for Infosys in trading and risk management, especially in the energy sector. Headquartered in Houston, Texas, MRE Consulting will bring a team of over 200 professionals with industry knowledge, consulting and deep technology experience in Energy/Commodity Trading and Risk Management (E/CTRM) platforms and ecosystems. Through decades of successful delivery, MRE Consulting has developed proprietary E/CTRM business process frameworks spanning multiple commodities, transportation modes and business models. These frameworks serve as the foundation for commodity trading projects, accelerating vendor selection, solution design and implementation. MRE brings new clients, and synergies with new buying centers. Ashiss Kumar Dash, EVP & Global Head – Services, Utilities, Resources, Energy, and Sustainability, Infosys, said, "The world is now shifting towards a more sustainable future. With increasing complexity in integrating diverse sources of energy including renewables, global corporations require innovative solutions to navigate transformation. At Infosys, we are witnessing a significant rise in demand for digital transformation in energy and commodity trading and risk management (E/CTRM). By combining MRE Consulting's deep E/CTRM capabilities with Infosys' established leadership in the energy, resources and utilities sector, we are further enhancing our ability to drive value for our clients in this critical area of their business. We are excited to welcome MRE Consulting and its leadership team to the Infosys family." MRE Founders, Mike Short, Dru Neikirk and Shane Merz, said, "The opportunities for our clients at the intersection of data, AI, and technology are vast. Beyond strong business synergy, we were seeking a partner who shared our values and mutual respect. By joining with Infosys, we will extend our expertise, deliver new capabilities, and expand beyond our current markets, while scaling what makes MRE special. We are truly excited about this new journey." The acquisition is expected to close during the first quarter of fiscal year 2026 (i.e. quarter ending June 30, 2025), subject to customary closing conditions. About MRE Consulting Founded in 1994, MRE Consulting provides technology and business consulting services to the Energy & Utilities, Services, and Healthcare industries. MRE specializes in business advisory and digital transformation for Energy/Commodity Trading and Risk Management (E/CTRM). MRE also provides comprehensive solutions across customer engagement, call center optimization, field service, CPQ/pricing, cloud infrastructure and digital workplace and is a Salesforce and Microsoft partner. We are proud to be recognized as a Houston Business Journal Best Places to Work. For more information, please visit About Infosys Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace. Visit to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next. Safe Harbor Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technologicassl disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
Zawya
20-03-2025
- Business
- Zawya
US companies race to secure import tariff exemptions after Trump pause
Washington's temporary relief for import tariffs on goods covered under the U.S.-Mexico-Canada Agreement (USMCA) has triggered a spike in US companies seeking exemption under the trade deal, industry experts said. The White House slapped fresh 25% tariffs on goods from Canada and Mexico on March 5, but later announced that levies on goods covered under the USMCA would be delayed until April 2. The USMCA grants preferential treatment to goods either sourced from or having a minimum percentage of value added in any of the three countries. "We're seeing importers rush to become USMCA certified ... the risk is just too high not to," said Brian Riley, senior vice president of customs house brokerage at logistics firm GEODIS. Some of the companies, mostly small businesses reliant on cross-border trade, are scrambling to verify if their products already qualify for exemptions. At present, only 37.8% of imports from Canada and 48.9% from Mexico are eligible for duty-free status under the USMCA, an S&P Global Market Intelligence report showed. To qualify, an importer must analyze the bill of materials - a list of all parts and materials used in a product - to determine if their goods meet requirements. Mike Short, president of Global Forwarding at freight forwarder C.H. Robinson, said there was an increase of USMCA qualification and tariff classification requests even before the official announcement. "Now that the official amendments are published, these requests have only increased, and we expect this trend to continue." Businesses earlier refrained from getting the certification due to its complexity and costs of meeting requirements, especially since their goods were already entering the U.S. duty free. Even after certification, a company has to maintain detailed records for up to five years after import and ensure continued compliance. "Companies are hedging their bets by becoming USMCA certified because what's to say the exemption may not continue after April 2? Or, if the exemption expires then, what if it returns in the near future?" GEODIS' Riley said. The uncertainty has prompted companies to overlook immediate cost-savings. "If you are slapping 25-50% tariffs on everything, companies that never previously needed to are now forced to evaluate if this (USMCA certification) is an option," said Sung Choi, vice-president of product management at supply chain solutions provider e2open. (Reporting by Abhinav Parmar in Bengaluru; Editing by Arpan Varghese and Arun Koyyur)
Reuters
20-03-2025
- Business
- Reuters
US companies race to secure import tariff exemptions after Trump pause
March 20 (Reuters) - Washington's temporary relief for import tariffs on goods covered under the U.S.-Mexico-Canada Agreement (USMCA) has triggered a spike in US companies seeking exemption under the trade deal, industry experts said. The White House slapped fresh 25% tariffs on goods from Canada and Mexico on March 5, but later announced that levies on goods covered under the USMCA would be delayed until April 2. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. "We're seeing importers rush to become USMCA certified ... the risk is just too high not to," said Brian Riley, senior vice president of customs house brokerage at logistics firm GEODIS. Some of the companies, mostly small businesses reliant on cross-border trade, are scrambling to verify if their products already qualify for exemptions. At present, only 37.8% of imports from Canada and 48.9% from Mexico are eligible for duty-free status under the USMCA, an S&P Global Market Intelligence report showed. To qualify, an importer must analyze the bill of materials - a list of all parts and materials used in a product - to determine if their goods meet requirements. Mike Short, president of Global Forwarding at freight forwarder C.H. Robinson, said there was an increase of USMCA qualification and tariff classification requests even before the official announcement. "Now that the official amendments are published, these requests have only increased, and we expect this trend to continue." Businesses earlier refrained from getting the certification due to its complexity and costs of meeting requirements, especially since their goods were already entering the U.S. duty free. Even after certification, a company has to maintain detailed records for up to five years after import and ensure continued compliance. "Companies are hedging their bets by becoming USMCA certified because what's to say the exemption may not continue after April 2? Or, if the exemption expires then, what if it returns in the near future?" GEODIS' Riley said. The uncertainty has prompted companies to overlook immediate cost-savings. "If you are slapping 25-50% tariffs on everything, companies that never previously needed to are now forced to evaluate if this (USMCA certification) is an option," said Sung Choi, vice-president of product management at supply chain solutions provider e2open.
