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.
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