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Cognizant picks Belcan in Rs 10,861-cr deal
Highlights
New Delhi: American IT firm Cognizant on Tuesday said it has signed an agreement to acquire digital engineering company Belcan, LLC, at a purchase...
New Delhi: American IT firm Cognizant on Tuesday said it has signed an agreement to acquire digital engineering company Belcan, LLC, at a purchase value of about $1.3 billion (Rs10, 861 cr).
The buyout comprises $1.19 billion in cash consideration and a fixed 1.47 million Cognizant shares worth $97 million based on Cognizant’s closing share price on June 7, 2024.
Cincinnati-based Belcan is owned by private equity firm AE Industrial Partners. Cognizant, through the acquisition, seeks to expand its access to the nearly $190 billion ER&D (engineering research and development) services industry and diversify into aerospace, defense, space, and marine sectors.
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