TEANECK, N.J. and PARIS, Oct. 2, 2013 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has acquired Equinox Consulting, a financial services consulting firm based in Paris, France. The terms of the transaction were not disclosed.
Equinox Consulting provides business consulting services across investment banking, asset management, retail banking, insurance, and specialized financial services. Founded in 2004, the company is known for its deep regulatory consulting expertise, spanning Basel III, Solvency II, EMIR/Dodd-Frank, FATCA and MiFID, in addition to strategy consulting, organization and operations management, change management, and HR consulting.
Under the terms of the agreement, about 160 consulting professionals will join Cognizant. The combination of Cognizant's global consulting and delivery capabilities and Equinox's consulting expertise will further enhance Cognizant's integrated global platform for financial services clients to "run better" by improving performance efficiencies as well as "run different" by building new business capabilities and driving innovation.
"We look forward to welcoming Equinox Consulting's talented professionals to Cognizant," said Francisco D'Souza, Chief Executive Officer of Cognizant. "This strategic acquisition underscores our commitment to the French and European markets, and reinforces our position as one of the top consulting companies across the region. With this acquisition, Cognizant is even better positioned to help European clients challenge the status quo and unleash new potential across their organizations by creating new business and IT models in response to secular shifts in the economy and technology."
"The agreement announced today is a major step forward for us," said Jean-Francois Rigal, Chief Executive Officer of Equinox Consulting. "The outstanding growth and success of Equinox Consulting in the last nine years have been built on the foundation of customer satisfaction, deep industry expertise, and specialized knowledge around regulatory mandates. International expansion and the ability to deliver broader consulting solutions to clients are critical for us to continue our strong growth and provide greater opportunities for our employees."
About Equinox Consulting
Equinox Consulting is a leading French management consulting firm dedicated to helping banking, capital markets and insurance clients with the transformation of their operating, risk management and customer relationship models. Equinox Consulting combines very deep industry expertise and innovative thinking to deliver top quality advisory services to the financial community and help its clients to face increasingly complex business and regulation evolutions.
Visit us online at www.equinox-consulting.com.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 164,300 employees as of June 30, 2013, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.