Infosys buys US firm for $70 million

Global software major Infosys on Monday announced the acquisition of US-based Noha Consulting firm for $70 million (Rs.454 crore) in a cash deal.

The Houston-headquartered Noha provides information management consultancy services to the oil and gas industry.

"Noah helps upstream oil and gas firms plan, architect and deploy information solutions to unlock the value of their oil and gas assets. Its expertise in upstream oil and gas makes it a leader in driving strategic data management engagements," the IT outsourcing major said in a statement here.

The buyout will position Infosys to offer end-to-end data management services to oil and gas companies globally.

The acquisition will leverage Noah's industry knowledge, information strategy planning, data governance and architecture capabilities with Infosys' ability to provide technology and outsourcing services on a global scale to oil and gas clients.

"The upstream oil and gas industry is facing challenges that demand faster and better ways of getting returns on investment. It requires information and data management strategy to allow firms to increase efficiencies from exploration to production," Infosys global head for energy, communications and services Rajesh Murthy said.

"Though our oil and gas clients are adjusting to lower oil prices, there is an urgency to improve efficiency and effectiveness of their operations. This acquisition is part of our strategy to bring next-generation data analytics solutions to the oil and gas industry," Infosys consulting vice president Sanjay Purohit said on the occasion.

Noting that both the firms would bring new capabilities to service their clients, Noha president John Ruddy said they would bring about transformational change in clients by using information management to integrate supply chain, safety, environmental and financial data with geosciences.

"We look forward to making a difference together," Ruddy added.

The transaction will be completed by the end of third quarter (October-December) of 2015-16 fiscal.