🚀 Big News in the Engineering World! 🚀
COGNIZANT TO ACQUIRE BELCAN FOR APPROXIMATELY $1.3 BILLION TO SIGNIFICANTLY STRENGTHEN ENGINEERING CAPABILITIES AND ESTABLISH A LEADERSHIP POSITION IN AEROSPACE & DEFENSE MARKET
Cognizant (NASDAQ: CTSH) on June 10 announced it has signed a definitive agreement to acquire Belcan, a portfolio company of AE Industrial Partners and a leading global supplier of Engineering Research & Development (ER&D) services, at a purchase price of approximately $1.3 billion in cash and stock, subject to customary adjustments.
Why is this deal exciting? Let’s break it down:
- Cognizant strengthens its engineering expertise by integrating Belcan's robust engineering services, Cognizant will enhance its ability to deliver advanced solutions across various sectors.
- This acquisition positions Cognizant as a key player in the Aerospace & Defense market, expanding their reach and influence in these critical industries.
- Clients can look forward to a broader range of services and etc.
important quotes from CEO interviews
Important quotes from the interview of CEOs:
"I'm excited about the fact that Belcan operates in a sector (aerospace and defense) which is actually growing faster than the sector we are operating in, which is IT services. So, it gives us an opportunity to evolve on that growth," Cognizant CEO Ravi Kumar said in an interview with Reuters.
"The capabilities that Belcan has - which is engineering, and which is in aerospace - can actually be cross-pollinated into the Cognizant strength area, which is primarily industrial manufacturing and automotive. So, it's a cross-pollination of services on both sides and the leverage of distribution networks on both sides," Kumar added. " ... That's the synergy we see."
... will be interesting to follow how this merger will unfold and the new heights it will take both companies.
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