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Infosys to buy Panaya

Bangalore: Indian IT consultancy Infosys is to acquire Californian software group Panaya, Inc, for $200 million in cash. Infosys says this acquisition reflects 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 will position 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. Commenting on the acquisition, Dr. Vishal Sikka, CEO and Managing Director of Infosys said, "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."

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