Cognizant Technologies (CTSH) recently announced that it has acquired information technology (IT) testing consulting services provider Galileo Performance.
Galileo helps leading companies in France optimize and extend business performance through IT system measurement, management and testing.
The addition of Galileo will expand Cognizant's fast-growing global testing practice, which currently employs 10,000 testing professionals and strengthen Cognizant's existing business presence in France.
Outsourced testing services are poised to grow significantly in the coming years as it lowers the cost of quality assurance and software maintenance and ensures better alignment of IT with business objectives.
Last month, Cognizant acquired London-based global program management consulting firm The PIPC Group. PIPC employs over 200 professionals across the globe. The addition of PIPC will extend and complement Cognizant's existing project management and consulting capabilities.
In addition, the acquisition will strengthen Cognizant's ability to provide integrated services across consulting, technology, and business process outsourcing.
The global economic scenario is showing signs of recovery and the business environment has become more stable compared to year-end 2009.
In 2010, IT spending is expected to get a boost and Cognizant expects to win significant business in the coming months.
In recent times, Cognizant has been making strategic acquisitions and partnerships to bolster its product portfolio and broaden its geographic presence. New services like infrastructure management and BPO / KPO have now achieved critical mass and present significant opportunities of growth.
Cognizant remains well diversified among verticals such as financial services, health care and life sciences, retail, manufacturing and logistics. This diversification has helped the company maintain its top line even in the recent economic downturn.
Read the full analyst report on "CTSH"
Zacks Investment Research
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
