Panaya’s CloudQuality suite will bring automation to several of Infosys’s service lines via a SaaS model. The transaction is expected to close by the end of March this year
Indian software giant Infosys has agreed to fully acquire Panaya Inc, a US-based startup providing automation technology for large-scale enterprise software management, for US$200 million in cash.
Panaya’s CloudQuality suite will bring automation to several of Infosys’s service lines via a SaaS model. It helps mitigate risk, reduce costs and shorten time-to-market for clients, said an official release.
The transaction is expected to close by the end of March this year.
“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 MD, Infosys.
Started in 2008, Panaya disrupts the risk, time and costs required to deliver all types of SAP, Oracle EBS, and Salesforce changes. Powered by Big Data analytics, Panaya’s CloudQuality suite delivers insights that tell you what will break, how to fix it and what to test. The company claims to have served around 1,220 companies in 62 countries that include Coca-Cola, Bosch, GM, Whirlpool and Loreal.
The company is backed by Benchmark Capital, Hasso Plattner Ventures, and Battery Ventures.
Infosys provides consulting, technology, outsourcing and next-generation services. The firm, which has clients in more than 50 countries, has US$8.25 billion annual revenues and over 165,000 employees.
Infosys recently launched a new US$250 million ‘Innovate in India Fund’ aimed at backing startups and new ideas. Recently, the software firm invested US$15 million in an unnamed startup related to DreamWorks Animation.
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