>>> Cognizant to acquire Netcentric

Cognizant to acquire Netcentric
24 OCT 2017
Cognizant [NASDAQ:CTSH], a Teaneck, New Jersey-based professional services company, has agreed to acquire Swiss-based Netcentric.
Deal Snapshot
  • Terms: Undisclosed, expected to close in 4Q17
  • Strategic Rationale: Enhances Cognizant's ability to deliver business critical digital experience solutions for clients in Europe and around the world
  • Target (Netcentric)
    • Business Description: Provides digital marketing services using Adobe Experience Cloud technology
    • Ownership: Private
    • Financials/Size Description: Four office locations in Europe; 380 employees
Buyer (Cognizant)
  • Ownership: Public [NASDAQ:CTSH]
  • Business Description: Provides IT services, including digital, technology, consulting, and operations services
  • Size: USD 43.9bn market cap
  • Acquisition History: Has made at least 10 other acquisitions since 2016, including TMG Health in June
Press release:
Cognizant (NASDAQ: CTSH) today announced it has entered into an agreement to acquire Netcentric, a leading provider of digital experience and marketing solutions for some of the world's most recognised brands, and a leading independent Adobe partner in Europe.
Netcentric's digital marketing teams in the United Kingdom, Netherlands, Switzerland and Germany, as well as regional delivery centers in Barcelona and Bucharest, will enhance Cognizant's ability to deliver business critical digital experience solutions for clients in Europe and around the world. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of closing conditions, including German regulatory review. Financial details were not disclosed.
Headquartered in Zurich, Netcentric works with leading brands such as Allianz, Mercedes-Benz, Miles & More, Raiffeisen, Swisscom and UBS, helping them personalise and deliver engaging digital experiences to customers. At the close of the acquisition, approximately 380 digital marketing specialists from Netcentric will join the Cognizant Digital Business practice, which addresses clients' needs to redefine business models, innovate products, deepen market intelligence and enhance digital experiences to drive growth and efficiencies in their businesses.
"The rapid growth of our business is driven by clients who understand that flourishing with the new digital economy requires merging marketing and digital concepts powered by more flexible IT that is delivered globally," said Elian Kool, CEO, Netcentric. "By joining forces with Cognizant, we will be able to integrate marketing, technology, analytics and AI to help clients provide personalised experiences across multiple channels and enable their digital transformation."
"We are excited about the Netcentric acquisition as it underscores our commitment to our clients across Europe and enhances our portfolio of digital capabilities in the interactive and digital marketing space," said Gajen Kandiah, President, Cognizant Digital Business. "It also further extends our Adobe Experience Cloud presence for the global brands we serve. We continue to expand on the digital marketing and experience skills our clients demand, and round out our ability to deliver these services to the market at scale."