Infosys Buys US-Based Panaya For $200 Million

Betting big on new technologies to boost growth, country’s second-largest software services firm Infosys will acquire US-based automation technology company Panaya for USD 200 million (over Rs 1,200 crore). The all-cash deal is the second-largest acquisition for the Bangalore-based firm, after Swiss consulting company Lodestone, which it bought for about USD 350 million (Rs 1,932 crore) in 2012.

Talking about the deal, Greyhound Research Chief Analyst and Group CEO Sanchit Vir Gogia said the mid-size acquisition will bring onboard new IP for Infosys without any hassles and also prove easier and lighter for the teams to integrate. “Panaya will offer significant differentiated advantage to Infosys for its Testing Services, which continues to be a manual process for many service providers,” he added.

To read the Full Article, click here: OneIndia

Leave a Reply