IT major Infosys on October 19 announced an acquisition of US-based oil and gas consulting firm Noah Consulting for USD 70 million (approximately Rs 453.5 crore) in an all-cash deal.

Must Know

• 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 USD 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 per cent, on BSE.

Expected Questions

Who is the Global Head of Energy, Communication and  Services of Infosys?