News: Cognizant to acquire Belgian KBC's BPO arm ValueSource

Strategic HR

Cognizant to acquire Belgian KBC's BPO arm ValueSource

According to a Mint report, IT services provider Cognizant announced second acquisition in the last few days when it said on Thursday that it will acquire ValueSource NV. It is a subsidiary of Belgium-based integrated bank insurance group KBC. Under an initial 5-year pact Cognizant will deliver development and maintenance applications and testing services to KBC. It had acquired Equinox Consulting of France on Wednesday. ValueSource, has employee strength of over 170 persons. Cognizant said in a statement that its 170 employees will transfer to the US-based IT services provider.

According to a Mint report, IT services provider Cognizant announced second acquisition in the last few days when it said on Thursday that it will acquire ValueSource NV. It is a subsidiary of Belgium-based integrated bank insurance group KBC. Under an initial 5-year pact Cognizant will deliver development and maintenance applications and testing services to KBC. It had acquired Equinox Consulting of France on Wednesday. ValueSource, has employee strength of over 170 persons. Cognizant said in a statement that its 170 employees will transfer to the US-based IT services provider.

The report added that ValueSource has a dedicated offshore development centre in Chennai. It provides integrated offshoring services in software development and maintenance in financial services and insurance domain, manufacturing and business operation automation.

Read the complete report here

Read full story

Topics: Strategic HR, #MergersAndAcquisitions, #Corporate

Did you find this story helpful?

Author


QUICK POLL

As talent leaders reimagine workplace learning, what is most critical?

2 months free subscription
q_auto,f_auto/v1601902819/mag-october-2020.png

Subscribe to all new People Matters HR Magazine

.

Subscribe
And Save 59% plus Two months free

Subscribe now

How likely are you to recommend our content to a friend or colleague?

01
10
Selected Score :