The stock of Cognizant Technology Solutions Corp (NASDAQ:CTSH) closed at $74.25 losing 0.59% in yesterday’s trading session. Cognizant has signed a deal that will have it acquire a provider of digital experience and marketing solutions called Netcentric. The provider also happens to be a trusted independent Adobe partner in Europe.
The digital marketing teams working for Netcentric in The Netherlands, the United Kingdom, Germany and Switzerland are expected to help Cognizant offer business critical digital experience solutions to clients globally. If everything moves according to plan, the transaction might be coming to a close in the fourth quarter of 2017. There will be need to adhere to the closing conditions though the company has declined to disclose the associated financial details.
Netcentric has its headquarters in Zurich and has over the years worked closely with top brands such as Mercedes-Benz, Allianz, Raiffeisen, Miles & More, Swisscom and UBS. It has helped them personalize as well serve customers with engaging digital experiences.
It is expected that Netcentric will be sending out about 380 digital marketing specialists to join the Cognizant Digital Business practice. It is entrusted with addressing the various needs of clients in the redefining of business models, deepening market intelligence, innovating products as well as growth and efficiencies in businesses.
The CEO of Netcentric, Elian Kool, opined, “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.”
Netcentric is delighted about its collaboration with Cognizant and remains optimistic that it will achieve immense success in terms of integrating marketing, analytics, technology and the AI which helps the various clients around the globe offer personalized experiences across multiple channels towards enabling their digital transformation.
The President of Cognizant Digital Business, Gajen Kandiah, expressed his excitement regarding the Netcentric acquisition. He outlined that it underscored their commitment to the clients in Europe. It will also help enhance the company’s portfolio of digital capabilities in both the digital and interactive marketing space.