IT services provider Infosys announced its deal to acquire Noah Consulting, a provider of information management consulting services for the oil and gas industry, for $70 million in cash.
The Bangalore-based Infosys said this acquisition combines Noah’s 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 Consulting assists upstream oil and gas companies, including super majors, independents and oil field service companies to plan, architect and deploy information solutions to unlock the value of their oil and gas assets.
“The upstream oil and gas industry is facing challenges that demand better ways of achieving return on investment. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally,” said Rajesh Murthy, EVP and global head of Energy, Communications and Services, Infosys.
Since oil and gas clients are adjusting to a new normal of lower oil prices, there is an urgency to improve the efficiency and effectiveness of their operations.
“This acquisition is part of Infosys’ strategy to bring next generation data analytics solutions to the oil and gas industry,” said Sanjay Purohit, EVP and global head of Infosys Consulting.
The transaction is expected to close before the end of the third quarter of FY 2016, said Infosys in a statement.