In yet another big news, Infosys the IT giant of India is all set to acquire one of the consulting firms of the United States. Noah Consulting which basically helps upstream oil and gas companies , independents and oil field service companies plan, architect and deploy information solutions.
Earlier this year, Infosys already acquired two different companies and this is the company’s third acquisition in the same year. Infosys earlier acquired US – based digital experience provider Kallidus (which does business under the name Skava) for $120 million and US-based automation technology company Panaya for $200 million with a valuation that was six times the multiple of its revenues and now Noah consulting for $70 million.
Founded in 2008, Noah Consulting helps upstream oil and gas companies, independents and oil field service companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets. Noah’s deep domain expertise in upstream oil and gas, coupled with their tools, solution accelerators and proprietary methodologies, makes them a leader in driving strategic data management engagements. This acquisition combines Noah’s deep 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. Noah has offices in Houston and Calgary, as well as projects in other global markets. The transaction is expected to close before the end of the third quarter of FY 2016, subject to customary closing conditions.
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.”