Infosys buys Panaya |
Indian IT major Infosys announced the acquisition of US-based Panaya for $200 million or Rs 1,250 crores. This is Infosys` second largest acquisition since the September 2012 deal to acquire Zurich-based Lodestone Holding. New Jersey-based Panaya provides cloud-based quality management services for enterprise applications; its clients include companies such as Coca-Cola, Mercedes-Benz and Unilever, among others. The all-cash deal is expected to close before March 31, 2015. The acquisition comes when Infosys is betting on new technology, including automation, artificial intelligence and cloud-based services. The company is trying to regain some lost ground from rivals like Tata Consultancy Services.
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