Offshore IT services provider Cognizant Technology Solutions Corp has agreed to acquire Infopulse, a Netherlands-based IT services firm specializing in the banking and financial services industry, for an undisclosed amount.
The Teaneck, New Jersey-based company said that the acquisition would allow it to better serve customers in the Benelux region by adding local client partners, industry expertise, and local language capability.
Infopulse has the client base, industry expertise and knowledge of local markets to spearhead our strategy for Benelux, said Kumar Mahadeva, Cognizant’s Chairman and CEO.
Customers in banking and financial services, have been among the first European companies to adopt a large scale offshore strategy, and Infopulse helps Cognizant further strengthen its position in this vertical, he said.
Cognizant uses offshore development centers, mostly in India, which enable it to deliver cut-price services to customers as a result of lower employee costs. It competes with Indian-based companies such as Wipro and Infosys, but because it is US-based, it has the advantage of localized sales forces for its US customers, an advantage its competitors are starting to address. The acquisition of Infopulse will allow it to offer further offshore options in Portugal, Romania and Ukraine.
This acquisition will help our current customers because they will get large scale offshore capabilities as well as industry specific IT services, said Wiljo Verbruggen, co-founder of Infopulse.
This article was originally based on material published by ComputerWire.