CHENNAI: New Jersey-based Cognizant, which has nearly a third of its workforce in India, surprised markets with the acquisition of TriZetto, a healthcare IT software and solutions provider, for $2.7 billion (Rs 16,400 crore) in an all-cash deal. It's the biggest acquisition in the Indian IT space, topping iGate's $1.2-billion buyout of Patni Computer.
Shares of Cognizant, which acquired TriZetto from London-based private equity firm Apax Partners, were flat at the US bourses in early trades at $44 apiece.
This is a very strategic acquisition for Cognizant as it gives the company the ability to work with its healthcare clients (who currently generate approximately $2.5 billion in annual revenue) to build the winning business models of tomorrow as they grapple with new regulations, shifting demographics, new digital technologies and a changing industry landscape
Shares of Cognizant, which acquired TriZetto from London-based private equity firm Apax Partners, were flat at the US bourses in early trades at $44 apiece.
This is a very strategic acquisition for Cognizant as it gives the company the ability to work with its healthcare clients (who currently generate approximately $2.5 billion in annual revenue) to build the winning business models of tomorrow as they grapple with new regulations, shifting demographics, new digital technologies and a changing industry landscape
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