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Infosys to Acquire Automation Technology Provider “Panaya”

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Infosys Ltd has agreed to acquire Panaya Inc. for an enterprise value of about $200 million — It’s first major step to execute chief executive Vishal Sikka’s vision to boost productivity by automating tasks since he took charge on 1 August.
It’s a second largest acquisition so far. The largest was of Zurich, Switzerland-headquartered management consulting firm Lodestone for $345 million (Rs 1,930 crore) in September 2012.

Panaya Inc Founded in 2006, the California, US-headquartered Panaya provides cloud-based services for large-scale enterprise software management. The company, with a little over 400 active accounts from clients such as GE, Coca-Cola, Mercedes-Benz, Apple and Johnson & Johnson, has so far raised about $59 million from private equity players such as Benchmark Capital, Hasso Plattner Ventures, Battery Ventures and Israel Growth Partners. Most of its 156 employees are in Israel.

Infosys has bought five firms, so far & they are

Company Name Year Value ($ mn)
Expert Information Services 2003 23
Captive BPO operations of Philips 2007 28
McCamish 2009 58
Portland Group 2011 34
Lodestone 2012 345