Infosys buys Israel-based automation tech company Panaya valued at $200 million

February 16, 2015

Bengaluru, Feb 16: Infosys, India's third largest IT firm, on Monday announced a definitive agreement to fully acquire Israel-based Panaya, Inc. for an enterprise value of $200 million.Infosys

Panaya, a leading provider of automation technology for large scale enterprise software management, helps Infosys to bring automation to several service lines through a software-as-a-service model, reducing risks and costs and the time taken to bring services to the market.

The transaction is expected to close before March 31, 2015, subject to customary closing conditions. According to IT analysts, this 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.

Commenting on the acquisition, Infosys CEO and Managing Director Vishal Sikka said, “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.”

Panaya CEO Doron Gerstel said, '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.”

Interacting with Deccan Herald during the Q3 results, Sikka had said that the game plan of Infosys is to reach out to the startup ecosystem in the well-established regions of Silicon Valley, Tel Aviv, London, and Beijing.

“We have to emulate companies in other geographies which work on cutting-edge technologies in analytics, data mining, mobility, automation and artificial intelligence. Indian startups should be exposed to those opportunities and our client base will help us in this regard,” he had said to Deccan Herald during that meeting.

During that time INfosys CEO also announced the company’s plan to expand its Innovation Fund from the current $100 million to $500 million.

The Israel based ERP solutions provider is a privately held company and backed by Benchmark Capital, Hasso Plattner Ventures and Battery Ventures.

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Agencies
August 3,2020

New Delhi, Aug 3: Afghanistan President Ashraf Ghani on Monday thanked Prime Minister Narendra Modi for the timely supply of food and medical assistance to meet the requirement in Afghanistan.

During their telephonic conversation, PM Modi also reiterated India's commitment to the people of Afghanistan in their quest for a peaceful, prosperous and inclusive Afghanistan, the Prime Minister's Office said in a statement on Monday.

The two leaders also exchanged views on the evolving security situation in the region and other areas of mutual bilateral interest.
Both leaders also exchanged greetings on Eid-Al-Adha. 

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News Network
July 14,2020

Jaipur, Jul 14: In a show of strength, Deputy Chief Minister Sachin Pilot-led Rajasthan Congress camp on Monday released a video showing at least 16 MLAs sitting together.

This comes hours after the Congress held a legislature party meeting. Party leaders said 106 of 122 MLAs attended, a claim contested by the Pilot camp.

The 10-second video was shared late at night on Pilot's official WhatsApp group.

In the video, at least 16 MLAs are seen sitting together in a close circle. Pilot is not seen in the video.

Six other people can be seen in the video but they could not be identified.

Some of the MLAs seen in the video are Indraraj Gurjar, Mukesh Bhakar, Harish Meena.

Tourism Minister Vishvendra Singh tweeted the video with the caption "Family".

Ladnun MLA Mukesh Bhakar tweeted, "...Loyalty in Congress means Ashok Gehlot's slavery. That is not acceptable to us."

Pilot has been upset since he was denied the Rajasthan chief minister's post after the December 2018 assembly elections.

On Sunday, he claimed to have the backing of 30 Congress MLAs and "some independents".

Those close to him disputed Gehlot's claim that his government had a majority, and said this is proven in the assembly and not at the CM's house.

Sources close to him have also ruled out the possibility of Pilot joining the BJP.

In the 200-member Rajasthan Assembly, the Congress has 107 MLAs and the BJP 72. In the past, the ruling party has claimed the support of 13 independents, two MLAs each from the CPM and the Bharatiya Tribal Party, and one from the Rashtriya Lok Dal.

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News Network
March 27,2020

Thiruvananthapuram, Mar 27: Kerala Police social media team is using innovative methods to get people engaged in the home during the lockdown period. From conversing with people to giving them suggestions of must watch movies and sharing links of e-books Kerala police have become new 'chat friend' of people in the state.
"The traditional method of policing of interacting with people is not possible due to social distancing, so Kerala police is using the digital platform to reach out to people," Additional Director General of Police (ADGP), Head Quarters Manoj Abraham, who is heading the social media wing told ANI.
"We used social media and tried to be different at the same time innovative. From creating awareness to taking precautions we through various videos like police dance, coronavirus animations etc reached out to people. We used film stars also and used local dialect. It has got good reach and public acceptance. The most important aspect is that they received the underlying message well and are staying home" he added.
Abraham also said that Social Media team of Kerala Police is also fighting the fake news and rumours being spread at the COVID- 19 times.
"Some people were misusing social media by spreading wrong information. We also went behind those who tried to sell medicines saying it is good against Coronavirus. We crushed them with an iron hand - registered cases and arrested them. We send a strong message in social media that no rumour-mongering will be allowed, " he said.
He said the Kerala Police realised that people staying indoors was one of the keys to winning the fight against COVID-19.
"We started a chat box with the public. People were in their houses and they used the time to chat with police on various aspects of lockdown. We provided them with the right information, " he said.
The social media team has prepared a list of e-books that can be downloaded and also has a list of must watch movies. Not only that the team also occasionally share jokes with people during chat sessions.
Prime Minister Narendra Modi on Tuesday announced a 21-day lockdown in the entire country effective from midnight to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease.

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