Join        Login             Stock Quote

Cognizant Technology (CTSH) To Buy Six Companies Of Germany's C1 Group

 December 21, 2012 07:55 AM

(By Balaseshan) Cognizant Technology Solutions Corp. (NASDAQ: CTSH) said it has agreed to buy six companies of C1 Group, an independent consulting and IT services firm based in Hamburg, Germany, for undisclosed sum.

The six companies include: btconsult GmbH (process and technology consulting, SAP); C:1 Solutions GmbH (consulting and enterprise solutions: SAP, BPM, ECM, ERM); psc Management Consulting GmbH (process and technology consulting); C:1 SetCon GmbH (software engineering and testing); Enterprise Services AG (a Swiss company focused on process and IT consulting); and C:1 Holding GmbH.

The six companies of C1 Group focus on three industry segments: manufacturing and logistics, energy and utilities, and financial services.

[Related -Cognizant Technology Solutions Corp (CTSH): How Penetration Rates Are Faring?]

These companies, which are known for their client-centric and innovative business culture, bring expertise in enterprise application services (specifically SAP), and high-end testing services that range from test consulting, strategy and design, to implementation.

Under the terms of the agreement, about 500 professionals across multiple locations in Germany and Switzerland will join Cognizant. The transaction is expected to close in the first quarter of 2013.

The combination of C1's client-facing expertise deeply rooted in the local business environment, and Cognizant's global delivery capabilities will help clients in Europe to address their dual mandate of driving cost efficiencies and operational effectiveness, as well as innovation and business transformation.

[Related -Cognizant Technology Solutions Corp (CTSH): How Q3 Earnings Will Fare?]

CTSH closed Thursday's regular session up 0.61% at $73.72. The stock has been trading between $53.92 and $78 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

article imageIs The Slump In US Manufacturing Easing?

Yesterday’s November survey data from the Philadelphia Fed hints at the possibility that a stronger trend read on...

article imageMarket Potentially Facing Near Term Technical Headwinds

After the S&P 500 Index pullback on Thursday and Friday last week, the market's advance on Monday and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.