Infosys agrees to acquire US energy consultant Noah Consulting for $70m

IT major Infosys has signed an agreement to acquire US-based energy consultant Noah Consulting in a transaction worth about $70m.

According to Infosys, the latest acquisition combines Noah’s industry knowledge, data governance and architecture capabilities together with its ability to provide technology and outsourcing services to oil and gas clients worldwide.

Infosys Energy, Communications and Services EVP and global head Rajesh Murthy said: "The upstream oil and gas industry is facing unprecedented challenges that demand faster and better ways of achieving return on investment.

"This requires a well-defined and executed information and data management strategy that will allow companies to increase efficiencies across the lifecycle – from exploration to production."

The acquisition, which is part of Infosys’ strategy to bring new data analytics solutions to the oil and gas industry, will also enable the company to offer data management services to companies operating in this industry globally.

Noah Consulting helps oil and gas companies plan, architect and deploy information solutions to generate value from their oil and gas assets.

Noah Consulting president John Ruddy said: "Together, we can effect transformational change for our oil and gas clients by using information management to integrate supply chain, safety, environmental and financial data with geoscience, engineering and other operational and technical data – an industry challenge that has never been addressed effectively. We look forward to making a difference together."

The transaction is subject to customary closing conditions and is slated for completion before the end of the third quarter of FY 2016.

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Image: The Headquarters of Infosys in Bengaluru, India. Photo: courtesy of Indianhilbilly