India’s one of the top most companies Infosys announced an agreement to acquire Panaya Inc., which is a leading provider of automation technology for large scale enterprise software management. The Infosys has acquired Panaya for an enterprise value of USD 200 million in cash.
This decision shows the new strategy of Infosys to make improvement and enhancement in competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence.
Benefits of this Acquisition to the Companies
This acquisition will be work as a key in renewing and enhancing their service lines.
This will help to amplify the potential of their clients.
At the same time, Panaya’s proven technology and Infosys’s global reach, service footprint and broad customer base will help to simplify the costs and complexities faced by businesses in managing their enterprise application landscapes and simplifying client’s requirements as well.
Infosys is an Indian multinational corporation that provides business consulting, information technology, software engineering and outsourcing services. It is headquartered in Bangalore, Karnataka.
It is the 3rd largest India-based IT services company by 2014 revenues.
Panaya is an American software as a service (SaaS) company that provides cloud-based quality management services for enterprise applications worldwide.
Panaya’s service runs on the Amazon Product Advertising API.