Leading information technology and BPO services provider Cognizant has acquired UBS India Service Centre Private Limited (UBS ISC), for USD $75 million. UBS ISC is based in Hyderabad and provides captive services to the UBS Group.
Cognizant will pay for the acquisition from its current cash reserves. USB ISC has more than 2,000 employees and provides services in a number of sectors such as wealth and asset management, investment banking, research and development and remote information technology infrastructure management.
With this acquisition, Cognizant hopes to strengthen its hold on the business and knowledge process outsourcing field and provide better consulting, technology and outsourcing-related services.
Cognizant (NASDAQ: CTSH) is a global information technology services and consulting company with headquarters in Teaneck, New Jersey, United States and with significant operations in Chennai, India.
Cognizant has over 64,000 employees. It has offices in Chennai, Bangalore, Coimbatore, Hyderabad, Kolkata, Mumbai, Pune, Gurgaon, Kochi and Budapest since 2008, development centers in Shanghai, Buenos Aires and Amsterdam.