Infosys, on Monday, announced that it had signed a definitive agreement to fully acquire U.S.-based automation technology provider Panaya for an enterprise value of $200 million. This is the company’s second largest acquisition after it acquired Zurich-based consulting company in 2012 for around $350 million.
“The mid-size acquisition allows Infosys to onboard the new IP without facing any hassles and also prove easier and lighter for the teams to integrate. With clear benefits on automation, Panaya will offer significant differentiated advantage to Infosys for its testing services, which continues to be a manual process for many service providers,” said Sanchit Vir Gogia, Chief Analyst and group CEO, Greyhound Research.
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