Refining its inorganic growth strategy further after finishing up acquisitions in consulting and analytics areas down the years, Cognizant Technology Solutions means scouting for business process outsourcing firms specialising in insurance in the US and Europe.
The Nasdaq listed company is looking to acquire companies handling back office operations for US and European clients, Primarily in insurance support and related surgeries, According to a smart investment banker who spoke on condition of anonymity. Such a move is expected Wholesale Jerseys to strengthen Cognizant’s insurance practice, Which has focused primarily on the property or house and casualty insurance industries.
Cognizant is understood to be targeting BPO firms with revenues in the $5 50 million range this year. When wanted, A spokesman said the company was always open to new acquisition prospects, But declined to comment on any questions to that effect.
about the ambit of property and casualty insurance, Cognizant has been offering back office and front office solutions in the areas of claims precessing, Document know-how, Policy supervision, regulating, filing and solution frameworks, and the like.
vast majority of 85,000 plus employees and 50 generation centres of Teaneck, New jersey based conscious are in India. freebies, that provides BPO and consulting services, Is seen by analysts as one of the key heirs of the sharply rebounding $60 billion Indian outsourcing market.
Cognizant’s net profit for the quarter ending March 31 rose to $151.5 million (urs 660 crore), Up 34 % from a year earlier and 5.2 percent quarter on quarter. bottom line for the first quarter rose to $959.7 million (rs 4,222 crore), shifting upward 28.7 % from $745.9 million (rs 3,278 crore) in their first quarter of 2009. Revenues in 2009 10 need to be at Wholesale Jerseys Supply, App NFl Store Cheap Deal least $4.1 billion NFL Shop Raiders – Buy Cheap Raiders Nike Jerseys, Hats (urs 18,860 crore), Up by at least 25 % over 2009.
Cognizant has carried out eight acquisitions since 2005, Including that of the UK based program management becoming a consultant, PIPC firm. PIPC was gotten last month for a little over 23 million (rs 154 crore). having 2009, conscious had acquired Pepperweed Advisors, The it consulting services division of US based Pepperweed Consulting, to put undisclosed amount.