Infosys has agreed to acquire Panaya, a Hackensack, N.J.-based provider of automation technology.
The transaction has a $200 million enterprise value and is expected to close by the end of March. Infosys, a consulting and IT services provider based in India, will use Panaya’s Cloud Quality suite to automate several of its service lines, a statement said.
Panaya has raised a total of $59 million in venture funding, according to Crunchbase. This includes $20 million in Series E funding Panaya collected from Israel Growth Partners last month, Crunchbase said. In January 2013, Panaya also secured a $16 million Series D round. The backers were Hasso Plattner Ventures, Benchmark and Battery Ventures.
Founded in 2006, Panaya’s management team includes CEO Doron Gerstel and Chief Technology Officer Mati Cohen.
Photo courtesy of Shutterstock.