On Monday, India’s leading company Infosys Limited disclosed the definitive agreement of acquisition signed with the US-based consulting company Noah Consulting for $70 million. This all-cash deal is expected to end before the third quarter of 2016, due to customary closing conditions.
Noah Consulting was incorporated in 2008 and is an advanced information management consulting service for the oil and gas industry. It helps upstream oil and gas companies, including super-majors, independents and oil field service companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets. These advantages make it one of the leading businesses that aid in strategic data management services.
The acquisition will amalgamate Noah’s knowledge, information system and data governance with Infosys’s outsourcing services and advanced technology to provide details to the oil and gas buyers.
In a press statement, the EVP and global head of energy in Communications and Services, Infosys, Rajesh Murthy said, “The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving a 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.”
Sharing about the acquisition, the president of Noah Consulting John Ruddy said, “Together, we can effect transformational change for our oil and gas clients by using information management to integrate supply chain, safety, environmental and financial data with geoscience, engineering and other operational and technical data – an industry challenge that has never been addressed effectively. We look forward to making a difference together.”
This is Infosys’s third acquisition this year. Earlier, the company had purchased US-based tech company Panaya for $200 million in February, and a $120 million deal was signed with digital experience provider Kallidus.