Second largest software service exporter of India – Infosys has announced to acquire Huston based Noha Consulting on Monday 19th October, deal is expected to be summed on USD 70 million around Rs.450 crore Indian currencies. Noah consulting is a leading service provider of advanced information management consulting service for Oil and Gas industry.
The business deal is projected to close by the end of third quarter of 2015-16 fiscal year, whereas payments will be made in all-cash deal with the management consulting firm. Noah was established back in 2008 helps ambitious Oil and Gas companies in plan, architect and deploy information solutions to enhance value of Oil and Gas assets.
Infosys as a software service exporter has cash reserves of Rs.32099 as of end of September 2015. The company will look for gaining expertise in providing end-to-end data management services to Oil and Gas industry. The energy and utilities business shares 4.7% of Infosys’s revenue as per the latest earning of company.
The deal has been announced acquisition came into light when prices of Oil is falling steeply in global market, resulting in a need for companies to improve operational efficiency by using data analytics and smarter information technology.
Rajesh Murthy, Executive Vice-President and Global head of the energy, communications and services vertical at Infosys said “The Oil and gas companies are facing unprecedented challenges that demands faster and better ways of achieving return on investment”.
Murthy in his statement added “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”
The takeover will merge Noah’s industry knowledge, information strategy planning, data governance and architecture potential with Infosys’ ability to provide technology and outsourcing services to Oil and Gas clients globally.
John Ruddy, President of Noah Consulting in his statement to media said “We are excited about the new capabilities that the combination of Noah and Infosys will bring to our clients,” he further remarked that “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.”