Monday, 16 February 2015

Infosys to buy Panaya

Infosys, an IT industry has made an Agreement to buy Panaya for $200 million that is ₹1244 crore.
"Panaya's CloudQuality suite uniquely positions Infosys to bring automation to several of its service lines via an agile SaaS (software as service) model, and helps mitigate risk, reduce costs and shorten time to market for clients," Said an Official from Infosys.

"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.", Said Doron Gerstel, CEO, Panaya Inc

Vishal Sikkka the first non-founder CEO (who became CEO in August 2014), has revealed that company's cash reserve will be used in Strategic Buyouts.

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