December 21, 2024

“Cognizant Set to Purchase Belcan for $1.3 Billion Amid Anticipated Revenue Decline”

The Entrepreneur Bytes Team June 11, 2024 229

Cognizant Technologies, a leading information technology services provider, has announced its plans to acquire Belcan, a digital engineering firm, for approximately $1.3 billion in cash and stock. This strategic move is aimed at broadening Cognizant’s presence in key sectors such as aerospace, defense, space, and automotive industries.

Cognizant to Acquire Belcan for $1.3 Billion, Expanding Reach in Aerospace and Engineering Sectors
Cognizant to Acquire Belcan for $1.3 Billion, Expanding Reach in Aerospace and Engineering Sectors

Cognizant Technologies, a leading information technology services provider, has announced its plans to acquire Belcan, a digital engineering firm, for approximately $1.3 billion in cash and stock. This strategic move is aimed at broadening Cognizant’s presence in key sectors such as aerospace, defense, space, and automotive industries.

Belcan, headquartered in Cincinnati and owned by private equity firm AE Industrial Partners since 2015, boasts a workforce of 10,000 employees spread across 60 global locations. The company’s impressive client portfolio includes industry giants like Boeing, General Motors, Rolls-Royce, NASA, and the U.S. Navy.

Cognizant’s CEO, Ravi Kumar, expressed enthusiasm about the acquisition, noting that Belcan’s operations in the rapidly growing aerospace and defense sector align well with Cognizant’s strategic goals. Kumar emphasized the potential for synergies between Belcan’s engineering expertise and Cognizant’s strengths in industrial manufacturing and automotive sectors.

Under the terms of the agreement, Belcan will continue to operate under its current leadership, with CEO Lance Kwasniewski at the helm, as a unit of Cognizant. This acquisition signifies Cognizant’s commitment to enhancing its specialized offerings and leveraging the combined strengths of both companies to drive growth and innovation.

The move comes as Cognizant anticipates a revenue slowdown and adjusts its annual revenue forecast. Despite challenges in client spending, Cognizant, with a market capitalization of $33 billion (Rs. 2.75 lakh crore), remains focused on strategic investments to reinforce its market position and deliver value to stakeholders.

Sources By Agencies

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