IT major Infosys on Monday announced acquisition of US-based oil and gas consulting firm Noah Consulting for $70 million (approximately Rs 453.5 crore) in an all-cash deal.
In a BSE filing, Infosys said it has “entered into a definitive agreement to acquire Noah Consulting LLC, a provider of advanced information management consulting service for the oil and gas industry... The acquisition was an all cash deal, with an aggregate purchase consideration of $70 million”.
Infosys EVP and Global Head of Energy, Communications and Services Rajesh Murthy said: “With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally.”
The company said this acquisition is part of its strategy to “bring next generation data analytics solutions to the oil and gas industry”.
The transaction is expected to close before the end of the third quarter of 2015-16, the company added.
The stock was trading at Rs 1,109.35, up 1.43%, on BSE.
HCL acquires Concept to Silicon Systems
HCL Technologies Ltd has under a definitive agreement acquired a Bengaluru-based privately held engineering services firm, Concept to Silicon Systems (C2SiS), for an undisclosed sum.
“C2SiS today is empowering strategic change in a broad range of industries with its specialisation in system-on-chip and system design services and its client list includes Fortune 100 and Fortune 500 companies”, HCL Technologies said in a BSE filing.
It further said: “With this strategic acquisition, HCL will be able to leverage C2SiS’ technical prowess in areas such as System-on-Chip, Physical design etc and will further extend its leadership position in the semiconductor industry.”
Shares of HCL Technologies were trading at Rs 846.95 apiece, up 0.55 per cent from their previous close on BSE.