Infosys Limited gained 2.48% over the last five trading days as the IT services firm announces the acquisition of two US companies.
The company’s stock price closed at ₹1,278.60 on Wednesday before trading in the Indian stock markets paused for the Ram Navami festival on Thursday.
Optimum Healthcare IT
In a statement, the company said that it has entered into a definitive agreement to acquire Optimum Healthcare IT. The Jacksonville Beach, Florida-based firm provides IT solutions and consulting services for the healthcare industry.
Infosys said that the acquisition will strengthen its healthcare capabilities, citing that Optimum Healthcare IT’s expertise and delivery model are a strong strategic fit for its scale and healthcare growth strategy.
“Together, Infosys and Optimum Healthcare IT will advance AI–led, large–scale cloud and data transformation initiatives for healthcare providers through an integrated, end–to–end set of offerings – supporting improved patient experiences through data–driven, personalized care while driving greater operational efficiency and cost optimization,” said Infosys EVP & Head of Healthcare Venky Ananth.
In a stock exchange filing, Infosys disclosed that it is buying Optimum Healthcare IT for $465 million.
Stratus
In a separate statement, the company said that it also inked a deal to buy Stratus. The Shrewsbury, New Jersey-based company provides technology solutions for the property & casualty (P&C) insurance industry.
“Infosys is unlocking AI value for P&C insurers through digital and data-led transformation,” said Infosys SVP & Head of Insurance Kannan Amaresh. “By combining Stratus' deep technology consulting capabilities with Infosys' established leadership in insurance sector, we are further enhancing our ability to drive value for our clients.”
Infosys said that its investment in the insurance technology company will strengthen its leadership in the insurance sector and accelerate AI-powered digital and data transformation for P&C insurance clients worldwide. The acquisition will cost the Bangaluru-headquartered company $95 million.
