Bengaluru: Infosys is all set to acquire a US-based automation technology company Panaya for an enterprise value of $200 million.
This is the IT major’s second largest acquisition after it bought Zurich-based consulting firm Lodestone for $350 million in Sep. 2012.
The transaction is expected to close before March 31 subject to customary approvals.
The Bengaluru-based company said the acquisition reflects Infosys’s execution of renew and new strategy to enhance the competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence.
Infosys said Panaya’s CloudQuality suite positions the second-largest IT firm 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.
About 1,220 companies in 62 countries including a third of the Fortune 500, use the Panaya CloudQuality suite to enhance and maintain their enterprise apps.
Commenting on the acquisition, Dr Vishal Sikka, CEO and MD 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.”
Doron Gerstel, CEO, Panaya, said, “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.”