The acquisition of Belcan is expected to significantly strengthen the engineering capabilities of Cognizant and establish it as a leadership position in the aerospace and defence market.
Information technology services provider Cognizant has announced the acquisition of US-based Belcan, a global supplier and established Engineering Research & Development (ER&D) services player, for approximately $1.3 billion in cash and stock, subject to customary adjustments. The transaction is anticipated to close in the September 30th, 2024 quarter, subject to the receipt of required regulatory approvals and other closing conditions.
Lance Kwasniewski, the CEO of Belcan, is expected to continue to lead the company, which will continue to operate under the Belcan name as an operating unit of Cognizant.
Source: People Matters
