Infosys to acquire IT firm Noah Consulting for $70 mn

Infosys is going to acquire Noah Consulting, which provides information management consulting services in the oil-and-gas sector, for $70 million in cash. This will be the third major acquisition of the Indian IT company this year.

“With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally," Rajesh Murthy, EVP and global head of energy, communications and services, Infosys said in a statement.

According to him, the upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment and this requires a well-defined and executed information and data management strategy that will allow companies to increase efficiencies across the lifecycle - from exploration to production, he added.

Founded in 2008, Noah Consulting helps oil and gas companies create and deploy information solutions to generate value from their oil and gas assets.

It has 122 employees and has offices in Houston, Texas and Calgary, Canada.

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

In February, Infosys said it would buy automation startup Panaya for $200 million. In April, it announced it would buy Kallidus Inc, a digital and mobile commerce solutions provider, for $120 million.

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