Calcutta, Oct. 15: Nasdaq-listed Cognizant Technology Solutions today said it had agreed to buy UBS India Service Centre for about $75 million (around Rs 340 crore).

UBS ISC, the Hyderabad-based captive BPO services provider to UBS Group, employs about 2,000 in India. Cognizant said it expected to garner revenues of around $442 million under an agreement with UBS AG over a five-year term.

UBS and Cognizant have entered into a multi-year servicing deal. According to the agreement, Cognizant will provide business process outsourcing, knowledge process outsourcing, IT and remote infrastructure management services to UBS divisions worldwide.

Cognizant, which provides consulting, technology and BPO services, has more than 50 global delivery centres and over 64,000 employees, worldwide. Most of them are based in India. “This acquisition extends our leadership in financial services,” Cognizant CEO Francisco D’Souza said.

The transaction — which is subject to the fulfilment of certain conditions — is expected to close around the year-end. In September, Cognizant had acquired Pepperweed Advisors — the IT consulting services arm of US-based Pepperweed Consulting — for an undisclosed sum.

Prior to this, it had acquired another US-based consultancy firm SVC and professional services firm AimNet.