Infosys snaps up US-based oil & gas consultancy firm for Rs 453 cr

New Delhi: IT major Infosys today 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.[caption id="attachment_2473710" align="alignleft" width="380"] Reuters[/caption]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 percent, on BSE.PTI