Cloud Computing: Infosys buys US software group Panaya

February 16, 2015 Off By David

Grazed from Financial Times. Author: James Crabtree.

Infosys has bought US-based technology group Panaya in a $200m deal, marking the most significant step in chief executive Vishal Sikka’s drive to offer high-end software and boost the outsourcer’s growth. On Monday, the Bangalore-based group announced it had acquired Panaya, which was founded by an Israeli entrepreneur in 2006 but has its headquarters in California, in an all-cash deal based on an enterprise value of $200m.

Panaya specialises in automation technologies, in particular those that can help large companies manage and upgrade complex software packages bought from the likes of US-based Oracle or German technology group SAP. Infosys’s move provides the clearest indication yet of the direction outlined by Mr Sikka since he took the helm of the group last June, having previously been SAP’s chief technology officer…

Read more from the source @ http://www.ft.com/cms/s/0/05682e48-b5e4-11e4-b58d-00144feab7de.html#axzz3RwCdrYMo