BIG PICTURE

Mumbai, June 9: The US-based Cognizant has acquired Los Angeles-based Strategic Vision Consulting (SVC), a management and technology consulting firm with over 60 employees serving the media and entertainment industry.

While the financial details and terms of the transaction are not known, a company official said the acquisition would strengthen Cognizant’s consulting and systems integration capabilities in the media and entertainment segment, with specific focus on studios.

“It is a small company with only 60 employees based out of Los Angeles. So, we are not giving out any financial details, but SVC brings with it some of the top US studios as clients,” the official said.

SVC focuses on high-impact consulting and systems implementation for leading media and entertainment firms, including the major studios, broadcasters, post-production facilities and interactive media companies.

“SVC has trusted relationship with all six of the major studios, significant penetration in broadcast, interactive media and post-production and strong brand value within the film studios. It is known for high-end quality services and strong consulting influence in project and technology sourcing,” said an official statement.

The media and entertainment and IT services market is estimated at approximately $61 billion.

“This acquisition will expand our consulting capabilities in the media and entertainment segment and allow us to help them respond to the opportunities brought about by the digital transformation of the industry,” Francisco D’Souza, president and CEO of Cognizant, said.