Infosys, a global leader in consulting, said that it has entered into a definitive agreement to acquire Noah Consulting, LLC.
Noah Consulting is a leading provider of advanced information management consulting services for the oil and gas industry.
This acquisition was an all-cash deal, with an aggregate purchase consideration of US$70 million, the company said in the press release.
Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets.
Commenting on the acquisition, Rajesh Murthy, EVP and Global Head of Energy, Communications and Services, Infosys said, "The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment. This requires a well-defined and executed information and data management strategy that will allow companies to increase efficiencies across the lifecycle - from exploration to production. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally."
Shares of the copany were seen trading at Rs 111.25, higher by 1.60 per cent on BSE at 11.20 am IST. It touched an intra-day high of Rs 1114 during the trade.