 "Infosys gains on acquisition plan of Noah Consulting")
Infosys has moved higher by 2% to Rs 1,112 on the BSE after the company announced a definitive agreement to acquire Noah Consulting, LLC, for $70 million (approx. Rs 450 crore) in all-cash deal.
Noah Consulting, LLC is a leading provider of advanced information management consulting services for the oil and gas industry.
The transaction is expected to close before the end of the third quarter of FY2016, subject to customary closing conditions.
Meanwhile, in a separate regulatory filing, Infosys announced that a collaboration with IBM, in which Infosys will tap Bluemix, IBM's Cloud platform to develop the next generation of Cloud apps for its global client base.
The stock hit a high of Rs 1,114 on the BSE and has seen a combined 1.24 million shares changed hands on the counter on the BSE and NSE.
Noah Consulting, LLC is a leading provider of advanced information management consulting services for the oil and gas industry.
The transaction is expected to close before the end of the third quarter of FY2016, subject to customary closing conditions.
Meanwhile, in a separate regulatory filing, Infosys announced that a collaboration with IBM, in which Infosys will tap Bluemix, IBM's Cloud platform to develop the next generation of Cloud apps for its global client base.
The stock hit a high of Rs 1,114 on the BSE and has seen a combined 1.24 million shares changed hands on the counter on the BSE and NSE.