Cognizant buys digital video firm

Cognizant buys digital video firm

IT services major Cognizant has acquire US-based digital video solutions company itaas for an undisclosed sum.

Announcing the agreement to acquire Atlanta, Georgia-headquartered itaas on Monday, Rajeev Mehta, Chief Executive Officer of IT Services at Cognizant, said, “This acquisition continues our long-standing strategy of acquiring sharply focused business capabilities that complement our existing offerings.

The company’s strong client focus and deep business and technology insights into the entire video ecosystem, combined with Cognizant’s global consulting and delivery capabilities, will create greater value for our mutual clients.”

Mehta said that the acquisition of itaas, founded in 1999, would strengthens Cognizant’s ability to create new business models in response to market shifts and competitive pressures which companies face in different industry segments.

It  has been helping cable, telecommunications, and technology companies deliver a broad range of digital video services across traditional cable, broadcast, and telecommunications network environments and on consumer devices such as set-tops, tablets and smartphones.

It employes about 200 people in the US, Canada, and India.

The acquisition will also help extend New Jersey-based Cognizant’s existing capabilities in catering to the communications, media, and hi-technology industries, besides key verticals of the company like banking, retail, and healthcare, in rolling out advanced customer and business platforms centred on video.

"Cognizant's global reach, experience and entrepreneurial culture will allow us to offer our current and future customers greater scale, a broader range of services, comprehensive solutions, and world-leading consulting and delivery expertise," itaas President and CEO Vibha Rustagi said.

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