Infosys has announced a definitive agreement to fully acquire US based Panaya, Inc., a provider of automation technology for large scale enterprise software management, in cash, for an enterprise value of $200 million.
Panaya is an automation tech startup and had recently (Jan 2015) raised $20mn from IGP (the company has so far raised $39mn).
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.
The acquisition of Panaya is a key step in renewing and differentiating our service lines. [Dr. Vishal Sikka, CEO and Managing Director]