Infosys today announced a definitive agreement to fully acquire Panaya, a leading provider of automation technology for large scale enterprise software management, in cash, for an enterprise value (EV) of USD 200 million.

Commenting on the same, Sarabjit Kour Nangra, vice president Research - IT, Angel Broking said, "The acquisition is positive for the company as it will enable the company better utilization of the cash. While the exact, numbers are not available, even the EV, the size of the company in terms of sales seems under USD 100 million, and will be very small given the size of the company.

Angel Broking maintains accumulate rating with a price target of Rs 2449."   

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