The technology consultant Infosys has agreed to buy software firm Panaya for $200m (£130m), as its seeks to capitalise on automation in the software-as-a-service (SaaS) industry.
The buyout is expected to be completed by the end of March, with an investor call due to take place today at 2.30pm GMT.
Vishal Sikka, chief executive of Infosys 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."
Doron Gerstel, chief executive of Panaya, 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."
