Cognizant acquires Dutch firm for $5 m

BANGALORE: Cognizant Technology Solutions acquired Infopulse, a Netherlands-based IT services firm specializing in the banking and financial services industry. According to a company statement, the Infopulse acquisition enhances services rendered to customers in the Benelux region by adding local client partners, industry expertise, and local language capability.

Cognizant paid $5 million in an all cash deal, while the annualised revenue of Infopulse totals $5-6 million.

"Infopulse has the client base, industry expertise and knowledge of local markets to spearhead our strategy for Benelux," said Kumar Mahadeva, Chairman and CEO of Cognizant. "Customers in banking and financial services, have been among the first European companies to adopt a large scale offshore strategy, and Infopulse helps Cognizant further strengthen its position in this vertical."

"This acquisition will help our current customers because they will get large scale offshore capabilities, as well as industry specific IT services," said Wiljo Verbruggen, co-founder of Infopulse, which has for several years leveraged offshore development in Eastern Europe. "Cognizant has a strong track record in the financial sector and also values customer focus, has very high customer satisfaction, and a culture that provides an excellent balance between business and technology."