In a filing to BSE, Infosys said it has entered into
an agreement to fully acquire Panaya Inc, a leading provider of automation
technology for large-scale software management.
The all cash-deal has an enterprise value of $200
million and the transaction is expected to close before March 31, 2015, subject
to customary closing conditions.
The acquisition is in keeping with 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.
“The acquisition of Panaya is a key step in renewing
and differentiating our service lines. This will free us from the drudgery of
many repetitive tasks so we may focus on the important, strategic challenges
faced by our clients,” Vishal Sikka, CEO and MD, Infosys, said.
Panaya’s technology helps dramatically simplify
costs and complexities faced by businesses in managing their enterprise
application landscapes he added.
This acquisition follows close on the heels of the
company’s $15-million investment in an animation technology spin-off of
California headquartered movie animation company, DreamWorks. While the $15
million was invested from Infosys’ $500-million innovation investment fund
which was announced last year and increased five-fold last month, it is not
clear whether the Panaya acquisition is a part of this innovation fund.
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