Displaying items by tag: Belcan
Friday, 21 June 2024 20:23
COGNIZANT TO ACQUIRE BELCAN FOR APPROXIMATELY $1.3 BILLION TO SIGNIFICANTLY STRENGTHEN ENGINEERING CAPABILITIES AND ESTABLISH A LEADERSHIP POSITION IN AEROSPACE & DEFENSE MARKET
Significantly expands access to the ~$190 billion rapidly growing, specialized
Engineering Research & Development services market
Immediately accelerates growth opportunity through presence in attractive
aerospace & defense sector with established blue-chip clients
Expected to deliver >$100 million in annual revenue synergies
within three years and to be accretive to 2026 EPS
Cognizant (NASDAQ: CTSH) (the "Company") today announced it has signed a definitive agreement to acquire Belcan, LLC ("Belcan"), a portfolio company of AE Industrial Partners and a leading global supplier of Engineering Research & Development (ER&D) services, at a purchase price of approximately $1.3 billion in cash and stock, subject to customary adjustments.
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