Cognizant buys Dutch IT firm Infopulse for $5 million
By siliconindia   |   Wednesday, 03 December 2003, 20:30 IST
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CHENNAI: Cognizant Technology Solutions, the Nasdaq-listed India-centric US-based IT services company, has acquired Infopulse, a Netherland-based IT services firm with a focus on banking and financial services sectors, for around $5 million, reports an Indian daily. The acquisition of Infopulse, which has about 100 employees, will enable Cognizant to better serve customers in the Benelux region with additional local client partners, industry expertise and local language capability. The annualised revenue of Infopulse is estimated at around $5-6m. This is the fourth acquisition for Cognizant in the last two years. In June ’02, it acquired certain assets of United Healthcare of Ireland (70 people) for $3m. During October ’02, it bought Silverline’s customer relationship with American Express Travel Related Services (200 in India and 100 in the US) for $10m. In April ’03, it took over US-based ACES, a company specialising in CRM solutions, at a cost of $4m (70 people). The purchase price for the current acquisition is about $5m, plus an earn out opportunity. Kumar Mahadeva, chairman and CEO of Cognizant, said, “Customers in banking and financial services have been among the first European companies to adopt a large-scale offshore strategy, and Infopulse helps Cognizant strengthen its position in this vertical.” “This acquisition will help our current customers because they will get large-scale offshore capabilities, as well as industry-specific IT services,” said Wiljo Verbruggen, co-founder of Infopulse, which has leveraged offshore development in eastern Europe for several years. (Source: Economic Times)

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