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Panaya is a leading provider of automation technology for large scale enterprise software management. Infosys plans to turn Panaya into its Israeli development center, according to Globes. Infosys, India’s second-biggest IT outsourcing company, has been making big bets on automation, artificial intelligence and cloud-based services under new chief executive Dr. Vishal Sikka, as the company tries to regain some lost ground from rivals such as Tata Consultancy Services. Commenting on the acquisition, Sikka said, “the acquisition of Panaya is a key step in renewing and differentiating our service lines. This will help amplify the potential of our people, freeing us from the drudgery of many repetitive tasks, so we may focus more on the important, strategic challenges faced by our clients. At the same time, Panaya’s proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes.” “We are excited about leveraging Infosys’ global reach, service footprint and broad customer base to deliver compelling, simplifying, value to clients. I am confident this integrated proposition will uniquely position Infosys as the services leader in the enterprise application services market,” said Panaya’s CEO Doron Gerstel. Infosys is a global leader in consulting, technology, outsourcing and next-generation services, with a market capitalization of $42 billion, $8.25 billion in annual revenues, and 165,000+ employees. Founded in 2006, Panaya recently raised $20 million in its latest round of funding. According to CrunchBase, Panaya had raised a total of $59 million in six funding rounds from investors, including Israel Growth Partners, Benchmark Capital, Battery Ventures, Hasso Plattner Ventures, Tamares, and Gemini Israel Ventures. According to Panaya, 1,220 companies in 62 countries, including a third of the Fortune 500, use its CloudQuality Suite to enhance and maintain their enterprise apps.]]>