On Monday, India's second-largest ITO (IT Outsourcing) company Infosys announced its intentions to buy Panaya Inc., a provider of automation technology based in New Jersey.

The enterprise value of the deal is valued at $200 million. Infosys have made a number of large investments into automation and other ultra-modern technology, such as artificial intelligence and cloud-based platforms. It is thought that the company is trying to regain lost ground on some of its biggest rivals.

Infosys's Chief Executive Vishal Sikka claimed that 'the acquisition of Panaya is a key step in renewing and differentiating our service lines... freeing us from the drudgery of many repetitive tasks.'

His intention is for Infosys to focus on the more important strategic challenges that his clients face.

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