IT consultant Infosys has acquired automation technology firm Panaya for $US200 million in cash.
According to a company statement, the 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 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," a statement said.
Infosys chief executive, Vishal Sikka, said the acquisition of Panaya was a key step in renewing and differentiating the company's 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," he said.
"At the same time, Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes.”
Panaya chief executive, Doron Gerstel, said he was 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,” he said.