The business and tech media are reporting today that IT giant Infosys will acquire Panaya for $200M in enterprise value.
According to an Infosys press release, the acquisition reflects Infosys’ execution of its Renew and New strategy to enhance the competitiveness and productivity of current service lines by leveraging automation, innovation and artificial intelligence. Panaya’s CloudQuality™ suite uniquely positions Infosys to 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 CEO Doron Gerstel is quoted as saying, “We are excited about leveraging Infosys’ global reach, service footprint and broad customer base to deliver compelling, simplifying, value to clients. I am confident this integrated proposition will uniquely position Infosys as the services leader in the enterprise application services market.”
A TechCrunch article quotes Infosys CEO Vishal Sikka, “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. At the same time, Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes.”
The Wall Street Journal writes, “Infosys is trying to revamp the way it delivers its outsourcing services by using more automation, big data and the cloud to slash the number of programmers and hours needed to create and manage software.”
Panaya CEO Doron Gerstel adds, “You can expect to see an acceleration in the pace of Panaya product development and innovation, as well as an expanded global presence for our solutions. Our team of developers, customer engagement and support staff will remain fully operational and will continue to grow.”