Continuing its acquisition spree, Infosys on Monday said that it would acquire Houston-based Noah Consulting in an all-cash deal worth $70 million or Rs 450 crore.
Noah Consulting is specialised in providing advanced information management consulting services for the oil and gas industry, Infosys said in a statement.
The deal is expected to be completed before the end of the third quarter in the current fiscal year, Infosys said.
Following the announcement, Infosys shares went up by 1.5% to trade at Rs 1,111 on the Bombay Stock Exchange (BSE).
India's second largest IT firm, which remained "conservative" on acquisitions in the past, is now taking inorganic route to propel its growth after Vishal Sikka became the CEO of the company in August last year.
Last month, Sikka had said that the company was mulling over acquisitions 'similar' to Accenture and Cognizant.
Recently, it has announced a partnership with US-based venture capital firm Vertex Ventures as a part of its strategy to gain access to start-ups that work on disruptive technologies.
Vertex Ventures, founded by former Facebook executive Jonathan Heiliger and former Accel Partners executive In Sik Rhee, has so far raised funds worth $141 million to support start-ups in areas "ranging from cloud computing to cyber security."
Further, Infosys had acquired Kallidus, a digital experience solutions firm, in a deal worth $120 million in April. It had also acquired US-based automation technology firm, Panaya, for $200 million in February, NDTV Profit reported.
Infosys continued its post robust earnings for the second consecutive quarter in the July-September period, with its profit zooming by 9.8% on a sequential basis.