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IT major Infosys acquires US-based firm Panaya

| | Feb 16, 2015, at 05:45 pm
Mumbai, Feb 16 (IBNS): Indian IT giant Infosys on Monday announced the acquisition of US-based firm Panaya for Rs 1,250 crore, media reports said.

Sources said New Jersey-based Panaya provides cloud-based quality management services for enterprise applications.

The company’s client list includes names like Coca-Cola, Mercedes-Benz and Unilever among many others.

Panaya takeover is Infosys’ second largest acquisition since September, 2012 when the Indian IT major had acquired Zurich-based Lodestone Holding, reports said.

A statement issued by Infosys said that the all-cash deal will likely to be closed before March 31 this year.

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