Sunday April 22, 2018
Home Business Infosys buys ...

Infosys buys US firm for $70 million

0
//
43
Republish
Reprint

Bengaluru: 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.

(IANS)

Click here for reuse options!
Copyright 2015 NewsGram

Next Story

Big reforms made India fastest growing major economies globally: Garg

It also has enormous implications for emerging markets and developing countries

0
//
10
The RBI building in Mumbai. Photo credit: AFP/Sajjad Hussain

The major reforms undertaken by the Indian government for raising economic growth and maintaining macroeconomic stability have made the country one of the fastest growing major economies in the world, said Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA).

Garg was addressing the Special Event hosted by US-India Strategic Partnership Forum on ‘Indian Economy: Prospect and Challenges’ in Washington D.C on Friday.

Indian economy needs big reform.

He said the launch of the Goods and Services Tax (GST) represented an “historic economic and political achievement, unprecedented in Indian tax and economic reforms, which has rekindled optimism on structural reforms.” He further emphasized that India carried-out such major reforms when the global economy was slow.

“With the cyclical recovery in global growth amid supportive monetary conditions and the transient impact of the major structural reforms over, India will continue to perform robustly,” Garg said.

During his meetings, Garg highlighted that the digital age technologies have profound implications for policies concerning every aspects of the economy. It also has enormous implications for emerging markets and developing countries.

Also Read: Biggest Bank Frauds Which Shook The Indian Economy

He expressed that the response to such a transformation will have to shift from ‘catch up’ growth to adoption/adaption of digital technologies for development and growth.

Garg also informed that India has started adopting policies and programmes for transforming systems of delivery of services using digital technologies and connecting every Indian with digital technologies and access through Aadhaar and other such means.

Indian economy should be on rise. www.mapsofindia.com

While citing the example of expanding mobile data access, he mentioned that India is now the largest consumer of mobile data in the world with 11 gigabytes mobile data consumption per month. He informed that India is investing in digital technologies, encouraging private sector to adapt these technologies and also addressing the taxation related issues by introducing equalisation levy.

Garg is currently on an official tour to Washington D.C. to attend the Spring Meetings of the International Monetary Fund and the World Bank and other associated meetings. He is accompanied by Urjit Patel, Governor, Reserve Bank of India and other senior officials. IANS

Next Story