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Cognizant Technology Solutions (NASDAQ: CTSH), a global leader in digital transformation and IT services, provides this centralized hub for investors and professionals tracking its strategic developments. Access up-to-date press releases, earnings reports, and announcements covering CTSH's consulting innovations, AI-driven solutions, and industry partnerships.
This resource offers critical insights into Cognizant's operational milestones, including cloud infrastructure projects, cybersecurity advancements, and cross-sector digital modernization initiatives. Users will find organized updates on mergers/acquisitions, leadership changes, and technology deployments across healthcare, finance, and retail verticals.
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Cognizant (NASDAQ: CTSH) announced the acquisition of Belcan for approximately $1.3 billion. This move is set to bolster Cognizant's engineering capabilities and establish a strong presence in the aerospace and defense sectors.
The acquisition is expected to significantly expand Cognizant's access to the $190 billion Engineering Research & Development (ER&D) services market and deliver more than $100 million in annual revenue synergies within three years. Cognizant plans to host an investor call on June 10, 2024, to discuss the transaction.
The deal includes $1.19 billion in cash and 1.47 million Cognizant shares, with an anticipated close by September 30, 2024. Belcan's CEO, Lance Kwasniewski, will continue to lead Belcan, which will operate as a unit of Cognizant.
Cognizant and Nexthink have partnered to launch Cognizant WorkNEXT™ Workplace Intelligence, aiming to transform digital workplace experiences using Nexthink's flagship product, Nexthink Infinity.
This new offering targets improved workplace outcomes by integrating predictive intelligence, user engagement, and automated issue resolution features to reduce operational costs and enhance productivity.
Cognizant's integration with Nexthink aims to support hybrid work models, enabling proactive IT support and better talent retention. The platform will feature real-time user experience observability, early detection of performance issues, and proactive remediation capabilities.
Fortive, a key client, has already benefited from these solutions, seeing improvements in employee experience and operational efficiency.
Cognizant (Nasdaq: CTSH) has announced its participation in two upcoming investor conferences.
Chief Executive Officer Ravi Kumar S will present at the J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference on May 21, 2024, at 11:30AM EST.
Chief Financial Officer Jatin Dalal will speak at the TD Cowen 52nd Annual Technology, Media & Telecom Conference on May 30, 2024, at 9:05AM EST.
Live audio webcasts of these presentations will be accessible on Cognizant's investor relations website, with replays available for 90 days.
Cognizant (Nasdaq: CTSH) reported first quarter 2024 financial results with revenue of $4.8 billion, a 1.1% year-over-year decline, or 1.2% decline in constant currency. Operating margin remained flat at 14.6%, while Adjusted Operating Margin expanded to 15.1%. The company returned $284 million to shareholders through share repurchases and dividends. Revenue guidance for 2024 is unchanged at (2.0%) to 2.0% in constant currency, with Adjusted Operating Margin guidance at 15.3-15.5%.
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