The terms of the transaction were not disclosed
Cognizant, a Nasdaq-listed information technology, consulting and business process outsourcing services company, today announced the acquisition of PIPC Group, a London-based global programme management consulting firm. The terms of the transaction were not disclosed.
According to company’s official release, with more than 200 professionals worldwide, primarily in the UK, Australia, New Zealand, and the US, PIPC helps leading global companies drive business transformation by providing programme management services, methods and tools, including its PMO (Project Management Office) and its PhD (Project Health Diagnostic) tools, used in over 800 engagements.
“PIPC will extend and complement Cognizant’s existing project management and consulting capabilities and further Cognizant’s ability to provide integrated services across consulting, technology, and business process outsourcing,” said in the release.
“At a time when cyclical and secular pressures are driving clients to seek new performance thresholds, effective program management is essential to ensure measurable business outcomes. PIPC’s strategic program management offerings will strengthen our ability to manage increasingly complex global projects while expanding our geographic footprint, particularly in Australia, New Zealand and the UK,” said Francisco D’Souza, president and CEO, Cognizant.
“This acquisition builds on our long-standing strategy of adding sharply focused business capabilities that complement our existing offerings and enhance the value we offer clients,” he added.
| ACQUISITIONS MADE BY COGNIZANT SINCE 2005 | |||
| Target company | Year of Acquisition | Consideration | Area of Focus |
| Fathom Solutions | 38,443.00 | 23.3 mm Dollars | Consulting: Telecommunications |
| Aimnet | 38,961.00 | 14.8 mm Dollars | IT Infrastructure Services |
| marketRx | 39,356.00 | 135.9 mm Dollars | High-end analytics |
| Strategic Vision Consulting | 39,600.00 | Not disclosed | Consulting: Media and Entertainment |
| Active Intelligence | 39,845.00 | Not disclosed | Oracle Retail Solutions |
| Pepperweed Advisors | 40,057.00 | Not disclosed | Consulting: IT Infrastructure Services |
| UBS ISC | 40,087.00 | 75 mm Dollars | High-end KPO across wealth management, investment banking and asset management |
| PIPC | 40,299.00 | 23 million Pounds | Consulting: Program Management and Consulting |
With around 85,500 associates worldwide, Cognizant will provide the global delivery capability, experience and scale to enable PIPC to accelerate its growth, he added.
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Six of the past eight “tuck-in” acquisitions by Cognizant have been in the Consulting or high-end capabilities space (such as program management, enterprise analytics and KPO) space.
“This clearly indicates the importance that Cognizant is placing on consulting and other high-end capabilities to address the structural challenges (regulation, consolidation, globalisation) and mega trends (such as consumerisation, virtualisation) that customers are going through and provide solutions to complex business problems,” said R Chandrasekaran, president and MD - global delivery, Cognizant.