Evan Vitale Consulting: Infosys to acquire energy consultant Noah Consulting for $70 million

Monday, October 19, 2015

Infosys to acquire energy consultant Noah Consulting for $70 million – Economic Times

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MUMBAI: Infosys said it would buy Noah Consulting, which provides information management consulting services in the oil and gas sector, for $70 million in cash, marking the Indian IT company’s third acquisition this year.

Noah Consulting helps oil and gas companies create and deploy information solutions to generate value from their oil and gas assets. Founded in 2008, Noah Consulting has 122 employees and offices in Houston and Texas in the US, and Calgary in Canada, its website shows. In a 2012 interview with Consultingmag.com, Noah Consulting founder John Ruddy said the company expected to reach $12.5 million in revenue that year. He added that his goal was to become a $50-million firm by 2015. Infosys did not reveal Noah Consulting’s revenue.

“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. With this acquisition, we are uniquely positioned to offer end-to-end data management services to oil and gas companies globally,” Rajesh Murthy, executive vice-president and global head of energy, communications and services at Infosys, said in a statement.

Infosys to acquire energy consultant Noah Consulting for $70 million

“The company informed that none of the promoters, promoter groups or group of companies has any interest in Noah Consulting LLC and this acquisition does not fall under the related party transaction. The acquisition is small and would not impact the financials in a big way,” said Sarabjit Kour Nangra, vice-president, research-IT, at Angel Broking.

The transaction is expected to close before the end of the third quarter of FY 2016, subject to customary closing conditions. In February, Infosys said it would buy automation startup Panaya for $200 million. In April, it announced it would buy Kallidus Inc, a digital and mobile commerce solutions provider, for $120 million.

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