Infosys has received an approval to execute a Business Transfer Agreement (BTA) and related documents with Noah Consulting LLC, a wholly owned subsidiary, to transfer the business of Noah Consulting LLC to Infosys, subject to securing the requisite regulatory approvals for a consideration based on an independent valuation. The board of directors at its meeting has authorized the company for the same.
The transfer of assets and liabilities between entities under common control will be accounted for at carrying values and will not have any impact on the consolidated financial statements.
Infosys is a global leader in technology services and consulting. It enables clients in more than 50 countries to create and execute strategies for their digital transformation.