Cognizant and Victory Capital to Extend Relationship with Five-Year Agreement
Rhea-AI Summary
Cognizant (NASDAQ: CTSH) has announced a five-year strategic collaboration with Victory Capital Holdings, Inc. (NASDAQ: VCTR), a global asset management firm. Cognizant will provide Victory Capital with technology infrastructure, security, and data and analytics capabilities, including infrastructure management, security engineering, a 24/7 security operations center, and comprehensive service desk support.
The collaboration aims to deliver reliable, scalable, and secure IT solutions, with Cognizant committed to providing new service management capabilities, improved service productivity, cost savings, and scalability support for Victory Capital's business growth. This extends a decade-long partnership between the two companies, during which Cognizant has assisted Victory Capital in transforming its IT landscape and implementing technology for its new headquarters in San Antonio, Texas.
Positive
- Five-year strategic collaboration with Victory Capital, extending existing partnership
- Provision of comprehensive IT infrastructure, security, and data analytics services
- Potential for improved service productivity and cost savings for Victory Capital
- Opportunity for Cognizant to leverage its expertise in the investment management industry
Negative
- None.
News Market Reaction – CTSH
In the trading session that priced this news, CTSH gained 1.23%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Cognizant will provide IT infrastructure, security, and data and analytics support to Victory Capital's next phase of digital transformation.
This strategic relationship aims to deliver reliable, scalable, and secure IT solutions. Cognizant is committed to delivering several key capabilities for Victory Capital over the next five years. These include new service management capabilities, improved service productivity, cost savings, and the ability for Victory Capital to cost-effectively scale in support of business growth.
Over the years, Cognizant has partnered with Victory Capital to help design and transform its IT landscape. Additionally, Cognizant assisted Victory Capital with the technology engineering and implementation for its new headquarters in
"Cognizant has been a trusted partner for Victory Capital for more than a decade, providing us with reliable, scalable, and secure technology solutions that have supported our growth in a dynamic market environment," said Ian Sale, Chief Operating and Technology Officer of Victory Capital. "We are confident that our strategic relationship with Cognizant will advance service delivery, flexibility and efficiency, enabling continued operational excellence and innovation."
"We are delighted to extend our relationship with Victory Capital, a valued client and a leader in the investment management industry," said Nageswar Cherukupalli, Senior Vice President & Business Unit Head of Banking & Capital Markets and Strategic Initiatives of Cognizant. "We look forward to continuing to leverage our deep domain expertise, digital capabilities, and global delivery network to help Victory Capital serve its clients."
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
About Victory Capital
Victory Capital is a diversified global asset management firm with
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 11 autonomous Investment Franchises and a Solutions Business, Victory Capital offers a wide array of investment products and services, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, a 529 Education Savings Plan, and brokerage services.
Victory Capital is headquartered in
Contact:
Katrina Cheung | katrina.cheung@cognizant.com
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SOURCE Cognizant Technology Solutions Corporation