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Infosys to buy VC-backed Panaya for $200 mln

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.

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