Infosys today announced an agreement to acquire Panaya Inc., a leading provider of automation technology for large-scale enterprise software management, in cash, for an enterprise value of USD 200 million.
Panaya is a third-party maintenance provider offering a SaaS-based solution to reduce the cost and risk of making changes to ERP systems.
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. 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.
“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.” – said Infosys CEO and MD, Vishal Sikka
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, said the chief of Panaya Mr. Doron Gerstel.
The transaction is expected to close before March 31, 2015, subject to customary closing conditions.
Powered by big data analytics and aggregating since 2008, Panaya CloudQuality Suite delivers insights that tell you what will break, how to fix it and what to test. 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 without skipping a beat.
Source: Infosys Press Release