Infosys Announces $200 Million Acquisition of US Automation Tech Firm Panaya

Infosys said on Monday it would buy Panaya Inc, a New Jersey-based provider of automation technology, for an enterprise value of $200 million (roughly Rs. 1,243 crores) as India's second-biggest IT outsourcing company bets on new technology to boost growth.

Under Chief Executive Vishal Sikka, Infosys has been making big bets on automation and other new technology like artificial intelligence and cloud-based services as the company tries to regain some lost ground from rivals like Tata Consultancy Services.

Commenting on the acquisition, Dr. Vishal Sikka, CEO and Managing Director ofI nfosys said, "The acquisition of Panaya is a key step in renewing and differentiating our service lines. This will help amplify the potential of our people, freeing us from the drudgery of many repetitive tasks, so we may focus more on the important, strategic challenges faced by our clients. At the same time, Panaya's proven technology helps dramatically simplify the costs and complexities faced by businesses in managing their enterprise application landscapes."

Mr. Doron Gerstel, CEO, Panaya, Inc. said, "We are excited about leveraging Infosys' global reach, service footprint and broad customer base to deliver compelling, simplifying, value to clients. I am confident this integrated proposition will uniquely position Infosys as the services leader in the enterprise application services market."

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Transactions Below Rs. 3,000 Should Be Exempt From OTP Rule, Says Snapdeal CEO

E-commerce major Snapdeal has sought a staggered approach for ushering in single-factor authentication regime for small value transactions, starting initially with a cap of Rs. 3,000.

Currently, two-step authentication is generally prevalent in the country. First step of authentication is feeding PIN and next step is punching in of secure code or one-time PIN (OTP).

In December, the RBI had indicated that it will soon come out with single factor authentication payment norms for low value e-commerce transactions without any compromise on security.

"I think RBI should follow it in steps. May be the first step should be somewhere around the Rs. 3,000 mark," Snapdeal, Founder and Chief Executive, Kunal Bahl said.

Once the RBI gets confident about its working and if there are no instances of fraud, the same limit can be taken up to Rs. 10,000, he said.

Bahl, however, cautioned that the limit should not be set at an insignificantly small amount.

"It can't be some really small amount where you won't even find out whether it worked or not," he said.

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Nasa to Send a Mission to Saturn's Moon Titan

In a bid to study the Earth's past more closely, Nasa is reportedly planning a future mission to Saturn's moon Titan.

Studying Titan is thought to be looking back in time at an embryonic Earth as Titan is the only moon in the solar system to have a significant atmosphere and this atmosphere is known to possess its own methane cycle, like Earth's water cycle.

Nasa has showcased their vision of a submersible robot that could explore Titan's vast lakes of liquid methane and ethane, reported Discovery News.

Nasa's Cassini spacecraft has extensively studied several seas during multiple flybys, some of which average a few metres deep, whereas others have depths of over 200 metres - the maximum depth at which Cassini's radar instrument can penetrate.

So, if scientists are to properly explore Titan, they must find a way to dive into these seas to reveal their secrets.At this year's Innovative Advanced Concepts (NIAC) Symposium, a Titan submarine concept was showcased by Nasa Glenn's COMPASS Team and researchers from the Applied Research Lab.

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