Infosys to acquire US-based Noah Consulting for $70 mn

Infosys, India’s second largest IT services company, on Monday said that it has signed a definite agreement to acquire Noah Consulting, a provider of advanced information management consulting services for the oil and gas industry.

The acquisition was an all-cash deal, with an aggregate purchase consideration of $70 million (around Rs 454 crore), the company said.

US-headquartered Noah Consulting helps upstream oil and gas companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets.

“The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally,” said Rajesh Murthy, EVP and Global Head of Energy, Communications and Services, Infosys.

Added Sanjay Purohit, EVP and Global Head of Infosys Consulting: “Our oil and gas clients are adjusting to a new normal of lower oil prices. There is an urgency to improve the efficiency and effectiveness of their operations in a safe and reliable manner. This acquisition is part of Infosys’ strategy to bring next generation data analytics solutions to the oil and gas industry.”

The transaction is expected to close before the end of the third quarter of FY 2016, subject to customary closing conditions.

In April this year, Infosys had acquired Kallidus, a San Francisco-based digital as well as mobile commerce solutions provider which operates under the brand name, Skava, for a total consideration of $120 million (Rs 763 crore).

Prior to this, in February this year, the company had acquired Panaya, an automation technology solutions provider, for an all-cash deal of $200 million (about Rs 1,244 crore).

Infosys Technologies Limited