Infosys will acquire US-based automation technology company Panaya for $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 $350 million (Rs 1,932 crore) in 2012. However, this is the first acquisition since former SAP board member Vishal Sikka took over as the CEO and managing director of the over $8-billion firm in August last year.
Talking about the deal, Greyhound Research chief analyst and group CEO Sanchit Vir Gogia said the mid-size acquisition would 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.
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