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Cognizant to Acquire Belcan for $1.3 Billion in Cash and Stock
Jun 10, 2024, 12:28 PM
Cognizant Technology Solutions Corp. has announced plans to acquire Belcan, a global supplier of engineering, supply chain, technical recruiting, and information technology services, for $1.3 billion in cash and stock. This acquisition aims to expand Cognizant's footprint in the aerospace, defense, space, and automotive sectors. The deal is expected to enhance Cognizant's capabilities and market reach in these critical industries. The transaction is subject to customary closing conditions and regulatory approvals. Cognizant's stock was down 0.7% in pre-market trading following the announcement.
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