Under terms of the deal, Teaneck, New Jersey-based Cognizant will pay an undisclosed sum to acquire Pune, India-based Ygyan, which provides application development, consulting and systems integration services around SAP tools.
The company employs some 85 consultants across operations in India, Malaysia, Singapore and the UK, the majority of whom are located in its India development center. Ygyan performs 80% of its work offshore, with the remaining 20% performed on site, where it offers project management, data conversion and data management services for development work being performed offshore.
The company recently became a channel partner for SAP India to deliver mySAP All-in-One system. The company has additional skills covering SAP R/3, businessware, portals and CRM for the manufacturing, construction, healthcare and retail sectors where it counts NIIT, Sony, IBM, Sansui, Lloyds Steel, Alembic Chemicals, Bouche, Kenstar, and AC Nielsen among its customers.
This is the third acquisition Cognizant has made in the past 12 months, adding to its December 2003 purchase of Netherlands-based finance sector services firm Infopulse, and its April 2003 purchase of US-based CRM consultancy Aces. Earlier this month, Cognizant reported a surge in both revenue and profit for the 12 months ended December 31, with net income up 66% at $57.4m on revenue that grew 60% to $368.2m.
This article is based on material originally published by ComputerWire
