American IT firm Cognizant entered into an agreement to acquire Netcentric, a digital experience and marketing solutions provider and a leading independent Adobe partner in Europe, to expand its European digital capabilities and Adobe Experience Cloud expertise.
The transaction is expected to close in the fourth quarter of 2017, subject to fulfillment of conditions, including a German regulatory review.
The financial details were, however, not disclosed.
At the close of the acquisition, approximately 380 digital marketing specialists from Netcentric will join the Cognizant Digital Business practice, which addresses the clients' needs to redefine business models, innovate products, deepen market intelligence and enhance digital experiences to drive growth and efficiencies in their businesses.
"We are excited about the Netcentric acquisition as it underscores our commitment to our clients across Europe and enhances our portfolio of digital capabilities in the interactive and digital marketing space. It also further extends our Adobe Experience Cloud presence for the global brands we serve. We continue to expand on the digital marketing and experience skills our clients demand, and round out our ability to deliver these services to the market at scale," Gajen Kandiah, President, Cognizant Digital Business, said.
Netcentric's digital marketing teams in the United Kingdom, Netherlands, Switzerland and Germany, as well as regional delivery centres in Barcelona and Bucharest, will enhance Cognizant's ability to deliver business critical digital experience solutions for clients in Europe and around the world.
Headquartered in Zurich, Netcentric works with brands such as Allianz, Mercedes-Benz, Miles & More, Raiffeisen, Swisscom and UBS, helping them personalise and deliver engaging digital experiences to customers.
"The rapid growth of our business is driven by clients who understand that flourishing with the new digital economy requires merging marketing and digital concepts powered by more flexible IT that is delivered globally. By joining forces with Cognizant, we will be able to integrate marketing, technology, analytics and AI to help clients provide personalised experiences across multiple channels and enable their digital transformation," Elian Kool, CEO, Netcentric, said.
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