Cognizant Technology Solutions, which backed out from Satyam bidding at the last moment, is in talks with London-based Pa Consulting for a buyout deal valued at $300-350 million. The preliminary discussions with the privately-held technology-led consulting firm come even as Cognizant is actively scouting for acquisitions in the European market, sources said.
Cognizant is looking to strengthen its presence in the UK and Continental Europe, from where the company gets 20% of its revenue pegged at $2.89 billion. When contacted, Cognizant CFO Gordon Coburn said in an email response, “We do not comment on speculation in the marketplace.” At the same time, Pa Consulting said, “It is not our policy to publicise or discuss in the media any alliance or partnership arrangements, and we have no comment to make.”
Monday, April 20, 2009
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