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Infosys acquires Menlo Park ERP provider Panaya for $200 million
Infosys International Inc. has acquired enterprise resource planning (ERP) provider Panaya Ltd. for $200 million.
Menlo Park, CA-based Panaya applies “big data analytics” to enterprise apps including SAP, Oracle E-Business Suite, Salesforce and others that allows customers to know “what will break, how to fix it, and what to test – before making any changes.”
Their key Panaya CloudQuality Suite offers the ability to enhance and maintain customer “enterprise apps without skipping a beat.”
The company claims that their customers can cut their build and test cycles by 50 percent or more, and deliver massively reduced project risks.
TechCrunch reported that with the acquisition Infosys would integrate technology from Panaya’s CloudQuality suite to bring automation to some of its software.
CEO and Managing Director of Infosys Dr. Vishal Sikka said in a statement that the acquisition would allow Infosys to differentiate their services.
“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. “At the same time, Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes.”
Founded in 2006, Panaya had been growing as an ever more popular ERP provider, and had raised $59 million over 6 rounds prior to acquisition. Investors included Israel Growth Partners, Hasso Plattner Ventures, Benchmark, Battery Ventures, Tamares and Gemini Israel Ventures
Indian tech giant Infosys was founded in 1981, floated on the NASDAQ in 1999 and is regarded as one of India’s largest software exporters. The company provides business consulting, IT, software engineering, and outsourcing services and had a market cap of $42.44 billion at the close of trading Friday 13th. Suffice to say the acquisition was somewhat loose change for the Indian giant.
The acquisition is expected to close before March 31, 2015, subject to customary closing conditions.
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