• Wednesday, August 5, 2020

Infosys to purchase Israeli firm Panaya Inc.

Discussion in 'World Affairs' started by Diggy, Feb 17, 2015.

  1. Diggy

    Diggy FULL MEMBER

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    Infosys to purchase Israeli firm Panaya Inc. for $200 mn, first acquisition under new CEO

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    Indian IT major Infosys on Monday announced its first major acquisition under new CEO Vishal Sikka by making public a $200 million cash deal to buy the Israeli firm Panaya, Inc., a provider of automation technology for large scale enterprise software management. The deal will be closed by the end of the current financial year.

    Infosys’ who have been very conservative in its acquisition strategies over the years said the Panaya deal reflects “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 company said in an official statement on Monday morning.

    “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,’’ Infosys CEO and Managing Director Vishal Sikka said in an official statement. “Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes,” he said. Panaya was originally founded in 2005 in Israel.

    The company has a small employee base of around 50 people and has clients like Mercedes Benz, Sony, Unilever in its ranks. It was among the top 100 global tech start-ups in 2009 and the top 10 in Israel.

    “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.” CEO, Panaya, Inc. Doron Gerstel said.

    Infosys to purchase Israeli firm Panaya Inc. for $200 mn, first acquisition under new CEO | The Indian Express

    @Chanakya's_Chant @Mr.Nair
     
  2. vsdave2302

    vsdave2302 BANNED

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    Great news. Expand the indian footprint across the globe. My best wishes.
     
  3. Diggy

    Diggy FULL MEMBER

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    [​IMG]

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  4. Aarush

    Aarush FULL MEMBER

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    :yahoo::yahoo::yahoo::yahoo:

    :yahoo::yahoo::yahoo::yahoo:
     
  5. Chanakya's_Chant

    Chanakya's_Chant SENIOR MEMBER

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    It is the fifth major acquisition for Infosys! Great!
    snippy.PNG
     
  6. SrNair

    SrNair ELITE MEMBER

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    Infosys was a small start up around 25 years ago with 7 people.Now it is a global Conglomerate with ever expansion strategy :tup:
     
  7. Diggy

    Diggy FULL MEMBER

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    start up business is really picking up in india , students want to now start their own companies or work in a start up rather than going for a big company . Small cities are being preferred for start ups so we might get to see many more infosys type companies coming up in the next 25 years . But the prob is out of every 100 start ups opened only 3 actually click , so its a very risky business .
     
  8. SrNair

    SrNair ELITE MEMBER

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    Some of my friends tried for it and burn their hands.You should need luck for start up victory.
     
  9. Diggy

    Diggy FULL MEMBER

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    yeah mate its not that easy
     
  10. Echo_419

    Echo_419 ELITE MEMBER

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    Yeah,in start up buiz capital is the most important thing you need,basically the more the merrier
    On topic
    Smart move by Infosys