Acquisition Expands Cognizant's European Digital Capabilities and Adobe Experience Cloud Expertise
ZURICH, Oct. 24, 2017 /PRNewswire/ -- 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."
Learn more about Cognizant Digital Business:
Netcentric, a leading service provider, transforms customer experiences for the world's top brands by unleashing the full potential of the Adobe Experience Cloud. We support clients throughout the entire process chain - from consulting and development through to marketing operations - helping them execute their digital strategy. Our leadership in the industry is rooted in our expertise in integrating the Adobe Experience Cloud technology to build scalable, bespoke and future proof solutions. By bridging the gap between marketing and technology, clients are able to drive automation to maximise their digital marketing performance. www.netcentric.biz, follow us @NetcentricHQ
Cognizant (NASDAQ-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 205 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the anticipated closing of the acquisition of Netcentric by Cognizant and expectations regarding the impact of such acquisition on the business and prospects of Cognizant and Netcentric. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.