Infosys rose 1.65% to Rs 1,111.75 at 11:50 IST on BSE after announcing a definitive agreement to acquire Noah Consulting, LLC, a leading provider of advanced information management consulting services for the oil and gas industry.
The announcement was made during market hours today, 19 October 2015.
Meanwhile, the BSE Sensex was up 68.05 points, or 0.25%, to 27282.65.
On BSE, so far 60,926 shares were traded in the counter, compared with an average volume of 2.18 lakh shares in the past one quarter.
The stock hit a high of Rs 1,114 and a low of Rs 1,100 so far during the day. The stock hit a record high of Rs 1,219 on 12 October 2015. The stock hit a 52-week low of Rs 929.50 on 21 October 2014.
The stock had underperformed the market over the past one month till 16 October 2015, falling 0.7% compared with 4.82% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.73% as against Sensex's 4.33% decline.
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The large-cap company has an equity capital of Rs 1148.47 crore. Face value per share is Rs 5.
Infosys said that the acquisition of 100% stake in Noah Consulting LLC, head quartered in Houston, Texas (USA), was an all-cash deal, with an aggregate purchase consideration of $70 million. The transaction is expected to close before the end of the Q3 December 2015, subject to customary closing conditions.
Noah Consulting helps upstream oil and gas companies, including super majors, independents and oil field service companies plan, architect and deploy information solutions to unlock the value of their oil and gas assets. Noah's deep domain expertise in upstream oil and gas, coupled with their tools, solution accelerators and proprietary methodologies, makes them a leader in driving strategic data management engagements. This acquisition combines Noah's deep industry knowledge, 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.
Infosys further informed that none of the promoter or promoter group or group companies have any interest in Noah Consulting LLC and this acquisition does not fall under the related party transaction.
Separately, Infosys announced a collaboration with IBM, in which Infosys will tap Bluemix, IBM's Cloud platform to rapidly prototype, develop and deploy the next generation of Cloud apps for its global client base. The company made announcement after market hours on Friday, 16 October 2015. Infosys said that the collaboration includes the launch of Bluemix-powered Innovation Lab for co-creation of apps with clients; training of Infosys developers on Bluemix and cloud app development skills; as well as Infosys' adoption of Bluemix Dedicated to leverage its vast library of cognitive computing and analytics solutions and other services to build client apps.
IBM launched Bluemix with a $1 billion investment in 2014, that matured quickly to become the largest Cloud Foundry deployments in the world, and providing a developer-friendly catalog of over 120 tools and software-services, combining the most prominent open-source, IBM and third-party technologies.
Infosys' consolidated net profit rose 12.1% to Rs 3398 crore on 8.9% growth in net sales to Rs 15635 crore in Q2 September 2015 over Q1 June 2015.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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