Noah Consulting is engaged in providing information solution for upstream oil and gas companies
Chennai: India’s second largest IT company, Infosys announced that it has signed an agreement to acquire Noah Consulting, a provider of advanced information management consulting services for the oil and gas industry. This acquisition is an all-cash deal, with an aggregate purchase consideration of $70 million. The transaction is expected to close before the end of the third quarter of FY 2016, subject to customary closing conditions.
Founded in 2008, Noah Consulting is engaged in providing information solution for upstream oil and gas companies. This is Infosys’ third acquisition this year. The company had bought Kallidus (Skava) a provider of digital experience solutions and Panaya an automation technology for large-scale enterprise software management earlier this year.
Commenting on the acquisition, Rajesh Murthy, EVP and global head of energy, communications and services, Infosys said, “The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment. This requires a well-defined and executed information and data management strategy that will allow companies to increase efficiencies across the lifecycle – from exploration to production. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally.”
( Source : deccan chronicle )
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