<p>IT major Infosys on Monday announced acquisition of US-based oil and gas consulting firm Noah Consulting for $70 million (approximately Rs 453.5 crore) in an all-cash deal.<br /><br /></p>.<p>Infosys in a statement issued on Monday said the acquisition will give it advanced information management consulting services for the oil and gas industry. The acquisition was an all-cash deal.<br /><br />Commenting on the acquisition, Infosys EVP and Global Head of Energy, Communications and Services, Rajesh Murthy said the upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment.<br /><br />Noah is Infosys’ third acquisition this year. The other two are Skava, a provider of digital experience solutions for $120 million in June, and Panaya, provider of automation technology for large-scale enterprise software management for $200 million, in February.<br /><br />Infosys EVP and Global Head of Consulting Sanjay Purohit said there is an urgency to improve the efficiency and effectiveness of its operations in a safe and reliable manner. <br /><br />“This acquisition is part of Infosys’ strategy to bring next generation data analytics solutions to the oil and gas industry,” said Purohit.<br /><br /> Infosys stated that the transaction is expected to close before the end of the third quarter of FY 2016.<br /></p>
<p>IT major Infosys on Monday announced acquisition of US-based oil and gas consulting firm Noah Consulting for $70 million (approximately Rs 453.5 crore) in an all-cash deal.<br /><br /></p>.<p>Infosys in a statement issued on Monday said the acquisition will give it advanced information management consulting services for the oil and gas industry. The acquisition was an all-cash deal.<br /><br />Commenting on the acquisition, Infosys EVP and Global Head of Energy, Communications and Services, Rajesh Murthy said the upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment.<br /><br />Noah is Infosys’ third acquisition this year. The other two are Skava, a provider of digital experience solutions for $120 million in June, and Panaya, provider of automation technology for large-scale enterprise software management for $200 million, in February.<br /><br />Infosys EVP and Global Head of Consulting Sanjay Purohit said there is an urgency to improve the efficiency and effectiveness of its operations in a safe and reliable manner. <br /><br />“This acquisition is part of Infosys’ strategy to bring next generation data analytics solutions to the oil and gas industry,” said Purohit.<br /><br /> Infosys stated that the transaction is expected to close before the end of the third quarter of FY 2016.<br /></p>
