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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News Network
May 25,2020

Raipur, May 25: A union minister was caught on camera issuing threats to district administration officials in Chhattisgarh saying that she “knows how to take people to a room and beat them with belts"

Officials were taken aback when Renuka Singh, Minister of State for Tribal Affairs, delivered this dialogue during her visit to the quarantine centre at Balrampur, around 400 km from Chhattisgarh capital Raipur on Sunday.

Dilip Gupta, a resident of Balarampur district in Chhattisgarh, had accused the chief executive officer and tehsildar of the district panchayat of assaulting him in a quarantine centre in the area following a quarrel over shoddy facilities. Renuka Singh took cognizance of the matter and reached the quarantine centre to speak to Dilip Gupta.

The minister, on reaching the quarantine centre, received details of the incident from Gupta and his family and lashed out at the officials for "beating him up".

In a video, Renuka Singh is seen cautioning the officials to not think of BJP workers as "weak".

"Ye bhagwadhaari BJP ke karyakartao ko kamzor mat samajhna. Janpad me baithke aur aap tehsil me baith ke jo bhed-bhaav kar rahe hain BJP ke karyakartao ke sazth, bhool jaiye (Don't think of saffron-wearing BJP workers as weak. Forget the discrimination that you are showing towards BJP workers)," Renuka Singh said, lambasting the officials.

However, the minister did not stop there and went on to threaten the officials saying she knows how to 'thrash people with a belt'. 

"Andheri kothri me le jaa ke na main belt khol ke thokna jaanti hu bohot acche se (I very well know how to lock people in a dark room and thrash them with a belt)," Renuka Singh can be heard saying in a video from the incident.

Dilip Gupta, who was put under quarantine after he recently arrived from Delhi, had reportedly complained about the quality of food and basic facilities in the centre and had even uploaded a video on social media over the same after officials failed to address his issues.

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News Network
May 19,2020

New Delhi, May 19: Spitting at workplace will be punishable with fine, the Personnel Ministry has said, citing the national directives for COVID-19 management.

In an order issued to all central government departments, it has asked their heads to ensure strict compliance of this and other directives in this regard.

This order is likely to bring about changes in and around government and private work places, where one can easily spot stains of 'pan' and 'gutka' spitted at some of the corners of walls or areas not frequented by many employees/public.

"Spitting in public and work places shall be punishable with fine, as may be prescribed in accordance with its laws, rules and regulations by the state/union territory local authority," said the national directives issued by the Home Ministry and shared by the Personnel Ministry with all central government departments.

It said wearing 'face cover' is compulsory in all public and work places.

In additional directives for the work places, the ministry said as far as possible, the practice from work from home should be followed.

"Staggering of work/business hours shall be followed in offices, work places, shops, markets and industrial and commercial establishments. Provision for thermal scanning, hand wash and sanitiser will be made at all entry and exit points and common areas," the directives said.

Frequent sanitization of the entire workplace, common facilities and all points which come into human contact e.g. door handles etc., shall be ensured, including between shifts, it said.

"All persons in charge of work places shall ensure social distancing through adequate distance between workers, adequate gaps between shifts, staggering the lunch breaks of staff, etc," the directive said.

The Centre on Monday asked 50 per cent of its junior employees, below the level of deputy secretary, to join work in office.

Till now, only 33 per cent of such employees were asked to attend office due to the novel coronavirus lockdown.

Central government employees were asked to work from home due to the lockdown that came into force from March 25.

All officers of the level of deputy secretary and above have already been asked to attend office on all working days.

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News Network
February 13,2020

New Delhi, Feb 13: Tibetan spiritual leader the Dalai Lama has congratulated AAP supremo Arvind Kejriwal for his party's stupendous victory in the Delhi Assembly polls, saying the people of the national capital will continue to benefit from his leadership.

Responding to the Dalai Lama's statement, Kejriwal in a tweet on Wednesday said, "Am humbled by the kind words and blessings from His Holiness The Dalai Lama. Thank you very much @DalaiLama."

Referring to the Happiness Curriculum for government schools in Delhi, the Dalai Lama said he has a deep admiration for the efforts the AAP government has made towards "shaping better, happier human beings with improved values".

"These measures will have a positive impact on children's overall education, as well as helping the poor to fulfil their dreams of improving their lives," he said.

He also lauded the AAP government's initiative to incorporate aspects of inner mental development into the school curriculum.

"Through such initiatives, you are showing a path to the rest of India," the Dalai Lama added.

In a near-repeat performance of 2015, the Aam Aadmi Party on Tuesday retained power with a stunning victory, winning 62 of the 70 assembly seats and leaving the BJP with just eight seats.

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