The latest acquisition by India’s second largest IT services exporter—Infosys—of Panaya for $200 million may seem a small buy for a company with over $8 billion in revenues. But this signals the start of Infosys’ transformation into a blue-blooded technology player, the vision of the company’s chief executive officer Vishal Sikka.
Sikka’s entry into Infosys as the first non-founder CEO was always expected to usher in changes and mergers & acquisitions (M&A) was certainly very high on the agenda. That process seems to have begun and there could be many more buyouts as the company looks to fill the various gaps in its technology offerings. “Clearly, the company has a few offering gaps that it needed to fill. This was expected given the recent announcements by Vishal on his intent to be focused on acquisitions to help the company make significant progress on non-linear growth,” Sanchit Gogia, founder and CEO of Greyhound Research told FE.
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