The Telegraph
Wednesday , April 23 , 2014
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Cognizant in buy mode

Calcutta, April 22: IT firm Cognizant today said it would acquire Atlanta-based digital video solutions company itaas. The deal is expected to be concluded by the end of this month.

New Jersey-based Cognizant said besides focusing on organic growth, it would opt for “tuck-in” acquisitions to expand footprint and strengthen its solutions portfolio. Cognizant will preferably target companies with a revenue of $20-$80 million.

itaas, which has approximately 200 professionals across the R&D centres in the US, Canada, Noida and Chennai, specialises in enabling television providers and broadcasters, particularly, cable channels, to deliver authenticated live streaming and video services on digital platforms.

“This acquisition continues our long standing strategy of acquiring sharply focussed business capabilities that complement our existing offerings,” Cognizant chief executive (IT services) Rajeev Mehta said.