Infosys buys US automation technology company Panaya for $200 Million

India's second-largest Consulting and IT services provider Infosys agreed to acquire US-based automation technology company Panaya for $200 million (over Rs 1,200 crore). This is the second-largest IT major's  acquisition ever. Previous largest was that of Zurich-based consulting firm Lodestone, bought for $345 million in 2012.

Infosys Said : 
 
"Panaya will 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."

Panaya has 156 employees and a majority of them are based in Israel. With this acquisition, Panaya joins Infosys with over 400 active customers.
Another reason the acquisition is so exciting is that its home base is Israel.It has emerged as the most concentrated area for startups and innovation after Silicon Valley.

Regards : IT company