Infosys to buy US automation tech firm Panaya Inc

Written By Unknown on Senin, 16 Februari 2015 | 15.45

Under Chief Executive Vishal Sikka, Infosys has been making big bets on automation and other new technology like artificial intelligence and cloud-based services as the company tries to regain some lost ground from rivals like Tata Consultancy Services .

Infosys  Ltd said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of USD 200 million as India's second-biggest IT outsourcing company bets on new technology to boost growth.

Under Chief Executive Vishal Sikka, Infosys has been making big bets on automation and other new technology like artificial intelligence and cloud-based services as the company tries to regain some lost ground from rivals like Tata Consultancy Services .

"The acquisition of Panaya is a key step in renewing and differentiating our service lines," Sikka said in a statement.

"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," he said.

Infosys stock price

On February 16, 2015, at 14:14 hrs Infosys was quoting at Rs 2283.10, down Rs 13.3, or 0.58 percent. The 52-week high of the share was Rs 4401.00 and the 52-week low was Rs 1447.00.


The company's trailing 12-month (TTM) EPS was at Rs 104.69 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 21.81. The latest book value of the company is Rs 366.51 per share. At current value, the price-to-book value of the company is 6.23.


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