In a bid to strengthen its foothold in Europe, US-based software services firm Cognizant Technology Solutions Corp. has bought Equinox Consulting, Mint reported. Equinox Consulting is a Paris-based financial services consulting firm.

As part of the deal, 160 consulting employees will join Cognizant from Equinox. Mint quoted Cognizant chief executive Francisco D’Souza as saying in a statement, “This strategic acquisition underscores our commitment to the French and European markets, and reinforces our position as one of the top consulting companies across the region.” He added, “With this acquisition, Cognizant is even better positioned to help European clients challenge the status quo and unleash new potential across their organizations by creating new business and IT models in response to secular shifts in the economy and technology.”

Cognizant is based in the US; it traces its roots to Chennai and has most of its workforce based in India.

Read the Mint report here