Cognizant buys French consulting firm Equinox
3 Oct 2013 9:56 PM GMT
IT major Cognizant has acquired French financial services consulting firm Equinox Consulting for an undisclosed sum.
Founded in 2004, Equinox provides business consulting services across investment banking, asset management, retail banking, insurance, and specialised financial services. The French company also has deep regulatory consulting expertise, spanning Basel III, Solvency II, EMIR/Dodd-Frank, Fatca and Mifid, in addition to offering strategy consulting, organisation and operations management, change management, and HR consulting.
Under the terms of the deal, about 160 consulting professionals will join Cognizant, the company said on Wednesday.
Without disclosing the deal size, the company spokesperson said Cognizant expects about $40 million in annualised revenue from this acquisition.
‘This strategic acquisition underscores our commitment to the French and European markets, and reinforces our position as one of the top consulting firms in this region,’ Cognizant chief executive Francisco D’Souza said.
The New Jersey, US-based Cognizant has over 50 delivery centres globally and about 1,64,300 employees as of the June quarter.
Founded in 2004, Equinox provides business consulting services across investment banking, asset management, retail banking, insurance, and specialised financial services. The French company also has deep regulatory consulting expertise, spanning Basel III, Solvency II, EMIR/Dodd-Frank, Fatca and Mifid, in addition to offering strategy consulting, organisation and operations management, change management, and HR consulting.
Under the terms of the deal, about 160 consulting professionals will join Cognizant, the company said on Wednesday.
Without disclosing the deal size, the company spokesperson said Cognizant expects about $40 million in annualised revenue from this acquisition.
‘This strategic acquisition underscores our commitment to the French and European markets, and reinforces our position as one of the top consulting firms in this region,’ Cognizant chief executive Francisco D’Souza said.
The New Jersey, US-based Cognizant has over 50 delivery centres globally and about 1,64,300 employees as of the June quarter.
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