Infosys to acquire Panaya for $200 mn

Photo: abplive.in

Infosys has announced that it will acquire Panaya, leading automation technology provider for $200 million (around Rs 1,244 crore) in all cash deal.

The Infosys CEO and MD Vishal Sikka issued a statement saying, “The acquisition of Panaya is a key step in renewing and differentiating our service lines. This will help amplify the potential of our people, freeing us from the drudgery of many repetitive tasks, so we may focus more on the important, strategic challenges faced by our clients.”

“At the same time, Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes,” he added.

According to the company, the acquisition is a part of Infosys’ ‘Renew and New’ strategy to increase the competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence.

The California-based Panaya provides automation technology for large scale enterprise software management. Infosys will get Panaya’s CloudQuality for large scale clients to manage their enterprise apps. Currently around 1,220 companies in 62 countries including top most Fortune 500 companies use Panaya CloudQuality.

“We are excited about leveraging Infosys’ global reach, service footprint and broad customer base to deliver compelling, simplifying, value to clients. I am confident this integrated proposition will uniquely position Infosys as the services leader in the enterprise application services market,” DoronGerstel, CEO of Panaya, said.

The transaction is expected to complete before March 31, 2015

(Input from PTI and Business Standard)

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