11 May, 2010

Cognizant acquires PIPC

The deal is in line with Cognizant’s "tuck-in" acquisition strategy, wherein taking over small companies would help in a smoother process of integration. Six of the last eight "tuck-in" acquisitions have been in the consulting or the high-end consulting space. The PIPC buy, in particular highlights Cognizant’s efforts to get more program managers on board as the nature and scale of projects gets bigger.

Cognizant did not disclose the size but sources in the company told that PIPC shareholders will get an initial consideration of 23 million British pounds plus an earn-out payment tied to future performance targets. PIPC has more than 200 employees worldwide, primarily in the UK, Australia, New Zealand and the US.