Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> CEO <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Vishal Sikka</a> dismissed rumours over wrongdoing in <keyword id="4172690" type="UNKNOWN" weightage="20" keywordseo="panaya-acquisition">Panaya acquisition</keyword> and said former CFO <a href="http://www.businessinsider.in/searchresult.cms?query=rajiv+bansal&amp;sortorder=effectivedate">Rajiv Bansal </a>did not raise any red flags during the deal. 
 Sikka said people are spreading wrong information and taking advantage of <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> controversy. 
 
READ ALSO: <a href="http://www.businessinsider.in/slideshows/warroom/infosys-r-seshasayee-vishal-sikka-say-no-battle-between-board-and-promoters-here-are-10-highlights-from-their-speech/slideshow/57130029.cms">Infosys’ R Seshasayee, Vishal Sikka say ‘no battle between board and promoters’. Here are 10 highlights from their speech</a> 
 
"There is a lot of irresponsibility and maliciousness in what you see. You don't appreciate that... the people who are feeding the wrong stories to the media. Lot of people, bystanders, the Monday morning quarterbacks. It is a price you pay for being at Infosys. I try to not lit get to me. Life is too short,” said Sikka. 
 
As per media reports, Bansal had raised red flags and expressed reservations during the Panaya acquisition. 
 "There is nothing there. He was CFO at the time we went through the process. It was the first time we were doing it, so we were extra careful. My view is that too big a deal has been made out of <keyword id="347003" type="PERSON" weightage="20" keywordseo="Rajiv-Bansal">Rajiv Bansal</keyword>'s severance, David's (Kennedy) severance, my compensation and Punita's (Kumar-Sinha) appointment,” said Sikka.

People are feeding wrong info, Panaya deal is clean: Vishal Sikka

Earlier during the day, we told you how <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> is slowly yet steadily moving on a progressive path. And now, we have heard another big news about the software firm. It has acquired <keyword id="35621" type="UNKNOWN" weightage="60" keywordseo="e-commerce">e-commerce</keyword> services provider <keyword id="2822352" type="UNKNOWN" weightage="100" keywordseo="Skava">Skava</keyword> for $120 million. This is the second largest acquisition from Infosys this year; earlier the company had bought Israel-based automation solutions startup <keyword id="2728667" type="UNKNOWN" weightage="60" keywordseo="Panaya">Panaya</keyword> for $ 200 million. 
 
In a statement posted on their website, Infosys said it completed the acquisition of Kallidus Inc, which is the holding group behind Skava, and its affiliate on Thursday. 
 
"The acquisition is in accordance with the terms set out in the agreement announced on April 24, 2015. The acquisition of Skava is part of Infosys' strategy to help clients bring new digital experiences to their customers through IP-led technology offerings, new automation tools and unparalleled skill and expertise in these new emerging areas," Infosys said on its website. 
 Infosys chief <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> has outlined plans and even formed a committee to aggressively pursue acquisitions as part of his vision to make Infosys a $20-billion company by 2020. Sikka wants acquisitions to generate at least $1.5 billion of annual revenue, as part of the strategy. And it seems, the company is headed in the right direction. 
 
(image credits: infotechlead.com)

Infosys has made its second largest acquisition of the year

India’s second largest software exporter <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> expects acquisitions can bring in additional revenues of about $1.5 billion as the IT services behemoth aims to achieve a goal of generating $20 billion by 2020. The company is also aiming to bring attrition levels down to the lowest in the industry in the same time frame. 
 

	These targets include increasing revenue per Full Time Equivalent to $80,000 by deploying automation and innovation in existing businesses and inorganic investment strategies influencing approximately $1.5 billion of new revenue, according to PTI. "The mission of our management is to prepare the company to achieve an aspirational goal of $20 billion in revenue by calendar year 2020 with at least 30% operating margin with specific targets," Infosys CEO <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> said in the company's annual report. The IT firm has already acquired some companies in the past few months. It announced its first major acquisition in February under Sikka, who had taken over as CEO in August 2014, of New Jersey-based automation technology firm <keyword id="2728667" type="UNKNOWN" weightage="80" keywordseo="Panaya">Panaya</keyword> for $200 million. In April, Infosys made another large acquisition and bought <keyword id="2822310" type="UNKNOWN" weightage="80" keywordseo="Kallidus">Kallidus</keyword> (also known as Skava) for $120 million. 
	 

	The Bengaluru-based company has been scouting for innovative companies in areas like automation and artificial intelligence. 

	The IT firm has already said it is open to 'bigger scale' mergers and acquisitions but with a caveat, it is not interested in "yesterdays" companies. 
	 

	Sikka said new services like design thinking, solutions in artificial intelligence and intellectual property-led businesses are expected to contribute at least 10% of Infosys' revenues. 
	 

	Infosys would also focus on building a vibrant ecosystem "from the ground up by investing in, incubating and growing innovative startups and companies that will help define the next generation of services and business models," he added. Once the bellwether of Indian <keyword id="6374576" type="ORGANIZATION" weightage="60" keywordseo="IT-Industry">IT industry</keyword>, the company lagged behind its peers like <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> and <keyword id="30331" type="CITY" weightage="80" keywordseo="HCL-Technologies">HCL Technologies</keyword> in terms of growth. 
	 

	Moreover, it also faced a series of senior level exits that the company has now capped with a series of measures like promotions and increments. 
	 

	The target would also be "bringing attrition levels down to the lowest in the industry and achieving at least 25% in diversity in our top leadership", Sikka said. 
	 

	On standalone basis, the attrition rate for fiscal 2015 stood at 18.9% compared with 18.7% in the previous fiscal. 
	 

	Infosys has over 1.76 lakh employees with the addition of 15,782 (net) people. Sikka also expressed confidence that the company can grow at 10-12% rate in the ongoing fiscal. 

	 
	(Image: Reuters)

Infosys is going to make an additional $1.5 billion in revenues via acquisitions

India’s second largest software exporter Infosys has formed a special investment committee on its board to keep a watch on all new acquisitions and big investments of the company. <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>, the CEO of the Bengaluru-headquartered IT MNC, is aggressively pursuing buyouts as the company wants to generate $20 billion of revenue by 2020. 
 Its rivals, both <keyword id="10862" type="CITY" weightage="80" keywordseo="Wipro">Wipro</keyword> and <keyword id="6357585" type="CITY" weightage="80" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (TCS), have a special committee to oversee decisions regarding strategy planning, capital expenditure programmes, acquisitions and investments. Roopa Kudva, new board member and managing director of <keyword id="211875" type="ORGANIZATION" weightage="80" keywordseo="Omidyar-Network">Omidyar Network</keyword>'s India operations, would chair the committee that comprises board veteran and former <keyword id="28250" type="CITY" weightage="80" keywordseo="Microsoft-India">Microsoft India</keyword> chairman <keyword id="50299" type="PERSON" weightage="80" keywordseo="Ravi-Venkatesan">Ravi Venkatesan</keyword> among other board members, two people familiar with the development told the Economic Times. 
	 

	"Infosys felt that creating a committee to oversee acquisitions was a necessity, given the company's more aggressive stance on acquisitions and investments under Sikka — this committee will be responsible for vetting and overseeing all decisions the company makes on acquisitions, along with the approval of the rest of the board," said one of them. 
	 

	Infosys declined to confirm whether such a committee had been formed. "We do not comment on rumours or speculation," a company spokeswoman said in an email response to ET. 
 

	Sikka has said that he wants acquisitions to generate at least $1.5 billion of that. According to the company's quarterly report, Infosys had cash and cash equivalents of about $5.2 billion as of March 31, 2015. Earlier, in an interview to ET, Sikka said that Infosys would be very aggressive in chasing buyouts. In February, days after the software company bought automation startup <keyword id="2728667" type="UNKNOWN" weightage="80" keywordseo="Panaya">Panaya</keyword> for about Rs 1,200 crore ($200 million), the first non-founder CEO of Infosys said, "We have a dozen targets we are looking at now." Infosys made another large acquisition and bought ecommerce services provider <keyword id="2822310" type="UNKNOWN" weightage="80" keywordseo="Kallidus">Kallidus</keyword> (also known as Skava) for $120 million in April. "Anytime we see a company with talent, capabilities and IP in these areas (AI and collaboration technology) we would love to go for an acquisition," said Sikka, a former SAP board member. 
	 

	Both the Panaya and Skava acquisitions were vetted by the newly-formed investment committee on the Infosys board, said the two sources quoted above. 
	 

	The formation of this committee comes at a crucial juncture for Infosys, which is making big bets in newer areas of technology as part of Sikka's overall plan to turnaround the fortunes of the company and also when rivals such as TCS and Wipro are trying to make similar investments to gain a first-mover advantage in areas such as artificial intelligence and automation. Sandra Notardonato of <keyword id="6371981" type="CITY" weightage="80" keywordseo="Gartner">Gartner</keyword> Research said, to achieve the compound annual rate of revenue growth of 18% implied by the $20 billion target, Infosys is counting on $1.5 billion in acquisitions, 10% contribution from new service areas and 15% internal growth. It’s worth noting that Infosys’ rival Wipro also has a committee that oversees decisions around acquisitions, among other things. Wipro's billionaire chairman <keyword id="6419840" type="PERSON" weightage="80" keywordseo="Azim-Premji">Azim Premji</keyword>, CEO TK Kurien, board veterans <keyword id="2881183" type="PERSON" weightage="80" keywordseo="William-Arthur-Owens">William Arthur Owens</keyword> and Jagdish Sheth, and former head of <keyword id="6528042" type="CITY" weightage="80" keywordseo="Hewlett-Packard">Hewlett-Packard</keyword>'s printing business Vyomesh Joshi are currently part of this committee. Even Tata Consultancy Services has an executive committee that oversees decisions around capital expenditure programmes, acquisitions and investments. Members of the committee include TCS CEO N Chandrasekaran, <keyword id="6355725" type="CITY" weightage="80" keywordseo="Tata-Group">Tata Group</keyword> chairman <keyword id="6356895" type="PERSON" weightage="80" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, former company veteran S Ramadorai, Harvard Business School professor Clayton Christensen and board veteran Ron Sommer. 
	 
	(Image: Indiatimes)

Infosys CEO Vishal Sikka creates a special panel to look into all acquisitions

<keyword id="2558261" type="UNKNOWN" weightage="20" keywordseo="Ritika-Suri">Ritika Suri</keyword> stepped down as <keyword id="4777835" type="UNKNOWN" weightage="20" keywordseo="infosys-executive-vice-president">Infosys executive vice president</keyword>. She was one of the top-paid executives who joined <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> CEO <keyword id="6369763" type="PERSON" weightage="20" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>’s team. Suri, who was brought on board by Sikka from SAP, earned more than Rs 5.1 crore in gross salary in FY17. She was in charge of Infosys’ corporate development and merger &amp; acquisitions. Business paper Mint that reported Suri’s exit stated she helped set up the company's $500 million venture fund which has since written down about a third of the $45 million is has deployed. Also, Suri led the acquisition of Israeli automation company <keyword id="2728667" type="UNKNOWN" weightage="20" keywordseo="Panaya">Panaya</keyword>, which was at the centre of a whistleblower letter and a later investigation. However, Infosys says it has been cleared by an independent investigation into alleged improprieties in its acquisition of Panaya and ecommerce platform Skava. (Image: Edgeverve)

Infosys sees top level exit, executive vice president quits

<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> CEO <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Vishal Sikka </a>is visibly angry due to questions raised over the US-based <a href="http://www.businessinsider.in/searchresult.cms?query=panaya+deal&amp;sortorder=effectivedate">Panaya acquisition</a>. 
 
Sikka, who is under attack due to the deal, said detractors are spreading false and malicious stories about the company. He said people were targetting him to the point of harassment. 
 In a strongly worded email to <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> employees, Sikka said reports questioning the company's acquisition of US-based Panaya are "orchestrated by people who are hell-bent on harming the reputation of the company and its employees." 
 
"We have categorically denied the allegations in these stories, but they still get published," he wrote. 
 
Infosys had acquired automation technology company Panaya in 2015 for USD 200 million or Rs 1,250 crore in cash. 
 
"We cannot let these stand unchallenged, and we will take every step and pursue every avenue to strongly defend the company in the face of these unfair and unwarranted attacks," he said. 
 
READ ALSO: <a href="http://www.businessinsider.in/small-business/people/i-have-a-wonderful-relationship-with-narayana-murthy-vishal-sikka/articleshow/57124437.cms">I have a wonderful relationship with Narayana Murthy: Vishal Sikka</a>

Annoyed Vishal Sikka says people are hell-bent, attacking him to “point of harassment”

India's second largest software exporter <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> would aim to return to industry-level growth rates by financial year 2017, if it manages to reach 10-12% <keyword id="6492838" type="UNKNOWN" weightage="80" keywordseo="revenue-growth">revenue growth</keyword> forecast this year, said the company’s chief financial officer <keyword id="347003" type="PERSON" weightage="80" keywordseo="Rajiv-Bansal">Rajiv Bansal</keyword>. 

	While attending an investor meet in Bengaluru on Thursday, Bansal said, the company would touch industry-level growth rates if it puts up a good show this year as compared to last year, when it grew at a meager 5.6%. 
 “When Mr Murthy came back (in 2013), we clearly said that we would take 3 years to get back to <keyword id="2896835" type="UNKNOWN" weightage="80" keywordseo="industry-level-growth-rate">industry-level growth rate</keyword> -- and that will be FY17," said Bansal. 

	"If 5.6% goes upto 10-12%, then next year we should see industry-level growth rates....I think we're on the right trajectory -- once we reach that 10-12% mark, I think it will give us a lot of confidence to touch industry-level growth rates," he added.
 Recently, Infosys has created a special team looking specifically at mergers and acquisitions, said UB Pravin Rao, the chief operating officer of the Bengaluru-headquartered IT firm. In 2014, Infosys hired former SAP executive <keyword id="2558261" type="UNKNOWN" weightage="60" keywordseo="Ritika-Suri">Ritika Suri</keyword> to lead <keyword id="101447" type="EVENT" weightage="80" keywordseo="MA">M&amp;A</keyword> for the company. 

	Moreover, Infosys expects acquisitions can bring in additional revenues of about $1.5 billion as the IT services behemoth aims to achieve a goal of generating $20 billion by 2020.
 

	"We have created a separate team looking at it -- a corporate development team looking at M&amp;A," said Rao.
 Ever since Suri joined Infosys, the company has pulled off two large acquisitions -- in January, it bought over Israel-based automation technology startup <keyword id="2728667" type="UNKNOWN" weightage="80" keywordseo="Panaya">Panaya</keyword> for $200 million, while in April, Infosys acquired eCommerce service provider <keyword id="2822352" type="UNKNOWN" weightage="80" keywordseo="Skava">Skava</keyword> for $120 million. 

	Infosys would aim to keep margins in the 25-26% range for the near term, depending on currency fluctuations, said Bansal.

	 
	 
	(Image: Reuters)

Infosys sees industry-level growth in FY17, if it meets 10-12% revenue growth that is

In an anonymous complaint received by <a href="http://www.businessinsider.in/searchresult.cms?query=Securities+and+Exchange+Board+of+India&amp;sortorder=effectivedate">Securities and Exchange Board of India</a> (<keyword id="35210" type="ORGANIZATION" weightage="20" keywordseo="sebi">Sebi</keyword>) and the <a href="http://www.businessinsider.in/searchresult.cms?query=US+Securities+Exchange+Commission+&amp;sortorder=effectivedate">US Securities Exchange Commission </a>(SEC), a person has accused <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> board of not addressing "serious corporate governance issues and conflict of interest issues related to Infosys CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Vishal+Sikka&amp;sortorder=effectivedate">Vishal Sikka</a>. 
 
In the email, the complainant, who claims to be an employee, said he or she is willing to talk to regulators and reveal all information. 
 
"But, I want to be protected as a whistleblower," the complainant said in the email. 
 
On the other hand, <a href="http://www.businessinsider.in/searchresult.cms?query=Infosys&amp;sortorder=effectivedate">Infosys</a> denied the allegations calling them "false, malicious and defamatory." 
 
"Infosys takes any whistleblower complaint seriously and there is due process to investigate any complaint that comes to us. If we do receive any query either directly or from the regulatory authorities, we will respond to it as per the due process," the company said in a statement. 
 
Earlier, it was reported that former chief financial officer (CFO) <a href="http://www.businessinsider.in/searchresult.cms?query=Rajiv+Bansal+&amp;sortorder=effectivedate">Rajiv Bansal </a>was unhappy about the buyout in the period prior to his exit and Sebi will seek a response from Infosys on several issues raised on the payout to the Bansal and the acquisition of Panaya. 
 
"We will examine the response from the company on the letter Sebi has received and see if there is any violation of securities laws. We are closely monitoring the developments," a senior SEBI official had told ET. 
 Infosys denied any wrongdoing in the Panaya acquisition. "With regard to Panaya's acquisition, a third-party valuation was done by <keyword id="6357341" type="CITY" weightage="20" keywordseo="Deutsche-Bank">Deutsche Bank</keyword>, and the price at which the company was acquired was within the band recommended by them," Infosys said in its statement.

Another whistleblower takes on Infosys over governance issue, company terms it ‘false, malicious’

The share price of Infosys fell by 16.2% a day after whistleblowers complaint on its top management turned public, on Tuesday (October 22). That’s a wealth erosion of about ₹53,000 crore (about $7 billion). It also hit a lower circuit and closed at ₹643 per share. This is due to a whistleblower complaint which alleged that the CEO and CFO top management put pressure on them to not recognise the reversal of $50 million on FDR contracts as it will slash profits. Two anonymous whistleblowers accused the CEO Salil Parekh and CFO Nilanjan Roy of concealing information from auditors and keeping large deal information from the board. But, investors seem to fear that this may only be the tip of the iceberg. And, this is not the first time that Infosys has been accused of ‘corporate governance’’ issues. In fact, the founder of the company and the promoter group has been vocal<a href="https://economictimes.indiatimes.com/markets/stocks/news/infosys-promoters-including-murthy-nilekani-offer-shares-worth-rs-2038-crore-for-buyback/articleshow/60347494.cms?from=mdr"> of possible irregularities</a>, especially during the acquisition of Panaya for $200 million. This was of course, two years back. Ever since, the CEO Vishal Sikka and the CFO R Seshasayee have quit after blaming the founder Naranya Murthy of ‘personal attacks’ on them. The board too had been scrubbed clean and changed by one of its founders Nandan Nilekani but as it seems to be, the troubles are far from over. The severity of the fall in the share price today shows that investors are more worried about the standard of governance at one of India’s most famous home-grown companies that was once touted to be a benchmark in corporate governance. As per he whistleblower complaints, millions in reversals were not added into the accounts, to make profits ‘look good’. Amongst other things, whistleblowers said that Even without a possibly fake facelift, Infosys has been losing out to its competitors. A research report by Nomura has maintained its ‘neutral’ rating on the company preferring TCS over it. “We expect calendar year growth momentum to moderate in the second half below double digits as it should be seasonally weak with furloughs in the third quarter. Incrementally, outlook is weak in retail, and BFSI remains soft which is 50% of revenues combined), though performance and outlook on other verticals is strong,” the report said after Infosys declared its quarterly results. For a company which is growing slow, investigation and accusations will not help. Not during times of slowdown which it already has a lot of ground to cover. If more troubles come out of the Pandora’s box, Infosys will risk comparison to the likes of Satyam Computers which went down in 2009 after the promoter Ramalinga Raju tried to merge it with another infrastructure company he runs, failed and declared his role in a scandal that hit the credibility of entire India Inc.

Infosys lost $7 billion in share value due to $50 million whistleblower complaint-- showing that governance is bigger than money

<a href="http://www.businessinsider.in/searchresult.cms?query=Infosys+">Infosys</a> is going to acquire <a href="http://www.businessinsider.in/searchresult.cms?query=Noah+Consulting">Noah Consulting</a>, 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 <a href="http://www.businessinsider.in/searchresult.cms?query=end-to-end+data+management+services+">end-to-end data management services</a> to <keyword id="43177" type="UNKNOWN" weightage="80" keywordseo="Oil-and-gas">oil and gas</keyword> companies globally," Rajesh Murthy, EVP and global head of energy, communications and services, <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> 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 <a href="http://www.businessinsider.in/searchresult.cms?query=data+management+strategy+">data management strategy</a> that will allow companies to increase efficiencies across the lifecycle - from exploration to production, he added. 
 
Founded in 2008, <a href="http://www.businessinsider.in/searchresult.cms?query=data+management+strategy+">Noah Consulting helps oil and gas companies create and deploy information</a> 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. 
 
(Image: Indiatimes)

Infosys to acquire IT firm Noah Consulting for $70 mn

The <keyword id="2776857" type="UNKNOWN" weightage="80" keywordseo="technology-startup-arena">technology startup arena</keyword> has registered a sharp rise in the recent past. This hyper-growth inflection point of the startup ecosystem has motivated India’s second largest IT firm <keyword id="6354512" type="CITY" weightage="80" keywordseo="Infosys">Infosys</keyword> to allocate a quarter of its $500-million fund, which will amount nearly 750 crore, to invest in startups in <keyword id="6357722" type="COMPANY" weightage="80" keywordseo="silicon-valley">Silicon Valley</keyword>, Israel and India along with venture capital firms. This information was revealed in an Economic Times report. 
 
Requesting anonymity, two people familiar with Infosys' plan told ET that the Bengaluru-based software services company has had discussions with about two dozen VC firms to carry out such investment, and this even includes Andreessen Horowitz. According to one of them, "There are no formal agreements with any particular VCs. The strategy is to back startups and entrepreneurs with ideas that align with the company. The idea is not just to be a passive financial investor but take disruptive solutions to customers." 
 As per the ET report, the chief executive <keyword id="6369763" type="PERSON" weightage="80" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> is seeking to broaden the company's offerings in newer areas of technology in order to set Infosys apart from its competitors like <keyword id="28721" type="CITY" weightage="80" keywordseo="Cognizant">Cognizant</keyword> and <keyword id="10862" type="CITY" weightage="80" keywordseo="Wipro">Wipro</keyword> in the ever-growing world of technology. 
 
Ritika Suri, who joined Infosys from SAP late last year, is leading the startup fund and mergers and acquisitions, the business daily added. In February, Infosys carried out its first startup investment by sinking about $15 million in a firm spun-off from Dream-Works Animation. Soon after this, the tech major signed a deal worth about Rs 1,200 crore ($200 million) to buy US and Israel-based automation startup Panaya to hunt the best startup clusters across the globe. 
 With more than 3,000 tech start-ups, India is the fourth largest base for young businesses in the world and it is expected that by 2020 the base will increase to 11,500 tech start-ups, as per a study report by <keyword id="6372077" type="CITY" weightage="100" keywordseo="Nasscom">NASSCOM</keyword>. 
(Image: Thinkstock)

​This Indian company will invest Rs 750 cr in startups in the Silicon Valley

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortWaze and FeeX co-founder Uri Levine</div></div></div>This summer, it's raining unicorns - tech startups valued at more than $1 billion - and as a result the Israeli tech scene is going absolutely crazy.Business Insider just spent a week in Israel meeting with over a dozen tech companies, and VCs. They all told us:Everyone is dreaming of becoming the next unicorn. Instead of selling their startups for $1 million to $30 million, founders are turning down multi-million acquisition offers wanting to build big companies.2015 is a record-breaker for VC funding. For the first half in 2015, 342 companies have attracted $2.1 billion, up from 334 companies nabbing $1.6 billion in the first half of 2014.The private equity bankers have arrived in droves, including Blackstone, SilverLake, KKR, Apax Partners, TPG, JPMorgan and Morgan Stanley, and they're writing writing huge checks.Chinese investors are swarming the country, joining Israeli VC funds as limited partners as well as doing a lot of huge, direct investments into startups, too. <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Chris McGrath/Getty Images</div></div></div>"If we're going to do $4 billion in venture in 2015, the estimate I heard is that at least $500 million of that will be Chinese money, and that's direct investment not including the LP stuff," Israeli powerhouse VC Jon Medved told Business Insider. "And I think that's probably underestimated." Medved, founder of <a href="https://www.ourcrowd.com/">investment startup OurCrowd</a> and is widely known as one of the fathers of Israel's tech startup scene.Chinese investors are "at all the parties" a startup founder told us. The joke here is that Israeli border control needs to open up a special customs line "just for Chinese investors with bags of money that they can just get in the country for free," Medved quipped. This hot economy has led to ... <ul><li>Big well-funded Israeli companies starting to acquire other Israeli companies for big sums of money, too.</li><li>The first crop of Israeli serial entrepreneurs, such as Avigdor Willens, who sold Annapurna to Amazon earlier this year for a reported $350 to $375 million. Willens sold his first company, Galileo, for $2.7 billion in stock back in 2000 to Marvell Technologies.</li></ul><h2>It started when Google dropped a billion on Waze</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortIsraeli flags fly in Jerusalem</div></div></div>When Google bought Waze for $1 billion in 2013, it was a milestone event for the country, says Medved. "Billion-dollar companies are now all over the place. Waze was the first and most important," he told us. Waze co-founder Uri Levine explained to Business Insider, "This was the first time a billion-dollar app, and a consumer app, came out of Israel," and it set "a new beacon for Israel" telling entrepreneurs to aim higher than a quick exit.The next year, Japan's Rakuten (the eBay of Japan) acquired Israeli messaging app Viber for $900 million and unicorn fever in the country began.Over and over, startup founders told us they had no interest in selling their successful companies, some of which were doing millions of dollars in revenue, some of which were doing hundreds of millions in revenue. They wanted to grow their companies past $1 billion to many billions."Israel entrepreneurs are obsessed with building unicorns," Hillel Fuld, CMO of Israeli startup Zula told us.<h2> Billion dollar startups include …</h2><ul><li>Taboola (who raised $117 million in February, $157 million total)</li><li>IronSource (who raised $105 million in two rounds from private equity funds run by JPMorgan and Morgan Stanley),</li><li>Outbrain (who filed confidential SEC documents for an IPO at a reported $1 billion valuation)</li><li>Conduit, who said it was the first Israeli internet unicorn, in 2012</li></ul>There's also a new crop of public tech companies worth $1 billion:<ul><li>MobileEye: IPO'd in 2014, with $12 billion market cap today</li><li>CyberArk, also IPO'd in 2014, market cap of about $2 billion</li><li>Wix, IPO'd in 2013, market cap of about $900 million</li><li>And there's some half-unicorns, like Varonis Systems, which IPO'd in 2014 and has a market cap of nearly $600 million, nothing to sneeze at.</li></ul><h2>Asian money everywhere </h2> "The Asia stuff is very dramatic, very real and very new," says Medved."China is the big story. But Japan for example - there had never been a visit of a Japanese Prime Minister to Israel before. In all the years of Israel's existence, what did they have to come here for? This year, the Japanese Prime Minister shows up for four days, all tech." <div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">OurCrowdOurCrowd founder, Jon Medved</div></div></div>Meanwhile, Korea's Samsung Ventures has now made "8 investments here over the last year," says Medved. Plus, "there are now Israeli companies going to list on the Singapore exchange."Israel will also be hosting the Indian Prime Minister for the first time. In February, Indian company Infosys (now run by SAP's former US CTO Vishal Sikka) bought Israeli company Panaya for $200 million. India has plans to build an R&amp;D center here. Still China overshadows them all. Investment are pouring in from Baidu, Fosun, Alibaba, Tencent, RenRen and others.Famous Chinese angel investor (and billionaire) Li Ka Shing and his Horizon Ventures fund are all over the country. Horizon was an early investor in Waze. And he's invested in about 29 Israeli startups, including Waze founder Levine's latest baby, FeeX, (raised $9 million).If there's a downside to all of this, its that Israel is starting to experience a severe talent shortage. They are now poaching each other's employees and trying to keep employees from leaving by offering better and better Valley-like perks.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Business Insider/Julie BortIronSource CEO and co-founder Tomer Bar Zeev and deputy CEO and co-founder Omer Kaplan</div></div></div>IronSource, for example, flies its 550 employees to one exotic offsite meeting every year. The whole company just got back from Greece. "Once a year, we party," CEO Tomer Bar Zeev told us. "That builds culture. It's one of the best investments we can make, investing in the company."If that fails, Chinese billionaire Li Ka Shing has an answer. He also donated $130 million to Israel's Technion, the Israeli Institute of Technology (like the MIT of Israel), one of the largest ever donations received by an Israeli university. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/israeli-firm-solar-power-energy-business-invention-2014-9">An Israeli Company Just Solved Solar Energy's Single Most Mystifying Problem</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1jbHlvcDqSkVm1c2NvsGYgno10q1fVAD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "panaya acquisition" and got 12 results

People are feeding wrong info, Panaya deal is clean: Vishal Sikka

BI India Bureau

Infosys has made its second largest acquisition of the year

BI India Bureau

Infosys is going to make an additional $1.5 billion in revenues via acquisitions

BI India Bureau

Infosys CEO Vishal Sikka creates a special panel to look into all acquisitions

BI India Bureau

Infosys sees top level exit, executive vice president quits

BI India Bureau

Annoyed Vishal Sikka says people are hell-bent, attacking him to “point of harassment”

BI India Bureau

Infosys sees industry-level growth in FY17, if it meets 10-12% revenue growth that is

BI India Bureau

Another whistleblower takes on Infosys over governance issue, company terms it ‘false, malicious’

BI India Bureau

Infosys lost $7 billion in share value due to $50 million whistleblower complaint-- showing that governance is bigger than money

Katya Naidu

Infosys to acquire IT firm Noah Consulting for $70 mn

BI India Bureau

This Indian company will invest Rs 750 cr in startups in the Silicon Valley

BI India Bureau

The startup scene in Israel is going bonkers, and the Chinese are swooping in

Julie Bort

Popular Keywords

Buying Guides

You Searched For "panaya acquisition" and got 12 results

People are feeding wrong info, Panaya deal is clean: Vishal Sikka

BI India Bureau

Infosys has made its second largest acquisition of the year

BI India Bureau

Infosys is going to make an additional $1.5 billion in revenues via acquisitions

BI India Bureau

Infosys CEO Vishal Sikka creates a special panel to look into all acquisitions

BI India Bureau

Infosys sees top level exit, executive vice president quits

BI India Bureau

Annoyed Vishal Sikka says people are hell-bent, attacking him to “point of harassment”

BI India Bureau

Infosys sees industry-level growth in FY17, if it meets 10-12% revenue growth that is

BI India Bureau

Another whistleblower takes on Infosys over governance issue, company terms it ‘false, malicious’

BI India Bureau

Infosys lost $7 billion in share value due to $50 million whistleblower complaint-- showing that governance is bigger than money

Katya Naidu

Infosys to acquire IT firm Noah Consulting for $70 mn

BI India Bureau

​This Indian company will invest Rs 750 cr in startups in the Silicon Valley

BI India Bureau

The startup scene in Israel is going bonkers, and the Chinese are swooping in

Julie Bort

Popular Keywords

Buying Guides

This Indian company will invest Rs 750 cr in startups in the Silicon Valley