Infosys Loses 44% of its Investment in Panaya, May See Further Erosion

Infosys, the country’s second-largest IT services company, on Thursday said the fair value of its subsidiary Panaya at the end of 2017-18 stood at $130 million, a sharp drop of 44 per cent of the investment the company had made in the Israeli automation company.

In a regulatory filing with the Securities and Exchange Commission (SEC), the regulator in the US, the company, basing itself on its negotiations with prospective buyers, said it might see a further erosion in Panaya’s fair value. –Business Standard