For Quick Alerts
For Daily Alerts

    Infosys to Buy Panaya in $200 Million Deal


    Indian IT major, Infosys today said it was buying, Panaya, a leading provider of automation technology for large scale enterprise software management, in cash, for an enterprise value of $200 million.

     Infosys to Buy Panaya in $200 Million Deal
    Infosys: Quotes, News
    BSE 726.75BSE Quote9.05 (-1.25%)
    NSE 727.75NSE Quote7.5 (-1.03%)
    "This acquisition reflects Infosys' execution of its Renew and New strategy to enhance the competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence," Infosys said in a release.

    Markets were not too enthused with the buyout and the stock was down marginally in trade at Rs 2287, down 0.37 per cent.

    Panaya's CloudQuality suite uniquely positions Infosys to bring automation to several of its service lines via an agile SaaS model, and helps mitigate risk, reduce costs and shorten time to market for clients.

    Commenting on the acquisition, Dr. Vishal Sikka, CEO and Managing Director of Infosys said, "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."

    Read more about: infosys
    Story first published: Monday, February 16, 2015, 11:05 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more