Cognizant acquires Equinox Consulting in France

NEW DELHI: Cognizant on Wednesday announced that it has acquired Equinox Consulting, a financial services consulting firm based in Paris, France. The terms of the transaction were not disclosed.

According to a press release by Cognizant, Equinox Consulting provides business consulting services across investment banking, asset management, retail banking, insurance, and specialized financial services.

Under the terms of the agreement, about 160 consulting professionals will join Cognizant. "The combination of Cognizant's global consulting capabilities and Equinox's consulting expertise will further enhance Cognizant's integrated global platform for financial services clients," the press release said.

Commenting on the acquisition, Francisco D'Souza, Chief Executive Officer of Cognizant said, "We look forward to welcoming Equinox Consulting's talented professionals to Cognizant."

"With this acquisition, Cognizant is even better positioned to help European clients challenge the status quo and unleash new potential across their organizations by creating new business and IT models in response to secular shifts in the economy and technology," D'Souza said.

Jean-Francois Rigal, Chief Executive Officer of Equinox Consulting said, "The agreement is a major step forward for us. International expansion and the ability to deliver broader consulting solutions to clients are critical for us to continue our strong growth and provide greater opportunities for our employees."

Cognizant has over 50 delivery centers worldwide and approximately 164,300 employees as of June 30, 2013. Cognizant has raised its full-year revenue growth forecasts. Cognizant Technology Solutions beat June quarter estimates by a wide margin, reinforcing its reputation as industry growth leader.