Report: Cognizant in talks for potential $550M acquisition

By ROI-NJ Staff
Teaneck | Sep 28, 2018 at 10:43 am

Teaneck-based information technology company Cognizant is in talks to buy Softvision, an application developer, for $550 million, according to a published report.

Reuters said this week that the company is hoping to boost its digital business through the acquisition of the global firm, based in Oakland, California.

Cognizant did not immediately reply to a request for comment from ROI-NJ.

Reuters said its sources warned that the talks with Softvision’s private equity owner, Utah-based Tower Arch Capital, may not result in a deal.

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ROI-NJ Staff | editorial@roi-nj.com | @ROINJNews