IT services provider Infosys is set to acquire Panaya, a provider of automation technology for large scale enterprise software management, for an enterprise value of $200 million.
This acquisition is line with Infosys’ strategy to enhance the competitiveness 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. 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,” said Vishal Sikka, CEO and managing director of Infosys.
Panaya’s technology helps simplify the costs and complexities faced by businesses in managing their enterprise applications.
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, said Infosys.