Goldman's former MD Crowhurst to now lead Cognizant’s M&A hunt

Cognizant’s M&A unit is being headed by former Goldman Sachs managing director Timothy Crowhurst, adding emphasis to the IT company’s belief that smart acquisitions will help it stay ahead of its rivals.

Allen Shaheen, who used to head the company’s mergers and acquisitions, is now executive vice president in charge of the company’s North America Delivery Centres. He moved to the new role in January.

“Crowhurst joined in October and there has been a transition in the mergers and acquisition function,” a Cognizant executive told ET. Crowhurst was a managing director in charge of technology, media and telecom investment banking at Goldman Sachs from 1999 to 2012. He also ran a boutique investment banking firm for two years. Cognizant had not responded to an email seeking comment at the time of going to press.


The Teaneck, New Jersey- headquartered IT services company has said it will accelerate the pace of its acquisitions, as it focuses on growing its digital business. In September, the company’s CFO said it was targeting between five and 10 deals a year and that the deal value would not necessarily be small.

“Most of the deals would continue to be smaller tuck-in deals. But in our mind a tuck-in deal could be anywhere upto a couple of million dollars,” CFO Karen McLoughlin had then said.

Cognizant has made five acquisitions in the last twelve months. IT companies are increasingly focusing on acquisitions as a way to break into new services. Accenture is spending between $1-$1.5 billion.

The company’s spending spree is so spectacular that analysts sometimes make a point of noting weeks in which it has not disclosed a buyout.