Cog­nizant to Raise Dig­i­tal Stakes with Mirabeau Ac­qui­si­tion

IT ser­vices ma­jor Cog­nizant to ex­pand dig­i­tal fo­cus with Mirabeau ac­qui­si­tion

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Dis­rup­tive tech­nol­ogy-re­lated ac­qui­si­tions seem to be the lat­est fla­vor for the In­dian IT ser­vices in­dus­try. IT ma­jor Cog­nizant, which has ma­jor­ity of its peo­ple based out of In­dia, has an­nounced the ac­qui­si­tion of dig­i­tal mar­ket­ing and customer ex­pe­ri­ence agency, Mirabeau BV. The ac­qui­si­tion is ex­pected to boost Cog­nizant’s dig­i­tal busi­ness ca­pa­bil­i­ties and ex­pand its hold in the Euro­pean mar­kets, where Mirabeau is said to have a strong pres­ence.

In­dia’s two IT ser­vices ma­jors In­fosys and Wipro too have been on a buy­ing spree for some time now, with Wipro re­cently an­nounc­ing its big­gest ever ac­qui­si­tion of cloud ser­vices player Ap­pirio, for a whop­ping $500mn and In­fosys an­nounc­ing ac­qui­si­tions of the likes of Skava, Noah Con­sult­ing and Panaya over the last two years.

It is a time when en­ter­prise cus­tomers in the U.S and Euro­pean mar­kets are mak­ing strate­gic in­vest­ments around omni-chan­nel customer ex­pe­ri­ence and dig­i­tal mar­ket­ing to drive busi­ness growth. So, it is as­sum­able that In­dian IT com­pa­nies that get ma­jor­ity of busi­ness from th­ese two re­gions would be look­ing at in­creas­ing their stakes in the new tech­nol­ogy do­mains.

With the ac­qui­si­tion, around 260 spe­cial­ists will be­come a part of Cog­nizant’s dig­i­tal busi­ness prac­tice, as per a state­ment re­leased by the com­pany.

“The fu­ture of the dig­i­tal econ­omy will be built on ex­pe­ri­ences con­sumers have as they bank, stay healthy, in­sure their fam­i­lies, and move through the in­ter­con­nected world. Com­pa­nies in con­sumer-fac­ing sec­tors are in­creas­ing their in­vest­ments in in­ter­ac­tive so­lu­tions to pro­vide bet­ter, more per­son­al­ized ex­pe­ri­ences to their cus­tomers,” said San­tosh Thomas, Pres­i­dent, Global Growth Mar­kets, Cog­nizant, in a press state­ment.

The ac­qui­si­tion marks the chang­ing de­mands of the IT ser­vices in­dus­try. As is ev­i­dent from the quar­terly re­sults of the IT com­pa­nies, busi­ness from tra­di­tional ser­vices is slow­ing down, so there is a sense of ur­gency to open new rev­enue streams. Also, as there is likely to be more un­cer­tainty around busi­ness engagements in the U.S mar­ket af­ter Trump takes over as the U.S Pres­i­dent; Europe could be­come an at­trac­tive al­ter­nate mar­ket. It is any­way clear that new tech­nol­ogy-re­lated ac­qui­si­tions will be a pre­ferred strat­egy for th­ese com­pa­nies as they try to stay rel­e­vant in a fast chang­ing busi­ness en­vi­ron­ment.

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