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To celebrate its fourth anniversary sponsoring the LPGA Tour’s Cognizant Founders Cup, Cognizant CEO Ravi Kumar S rang the opening bell May 6, along with members of Cognizant’s leadership team, local associates, LPGA Commissioner Mollie Marcoux Samaan, World Golf and LPGA Hall of Fame golfer Nancy Lopez, current LPGA Tour professionals In Gee Chun and Megan Khang, as well as members of the LPGA*USGA Girls Golf of Jersey Shore chapter. - PHOTO COURTESY OF NASDAQ INC.
To celebrate its fourth anniversary sponsoring the LPGA Tour’s Cognizant Founders Cup, Cognizant CEO Ravi Kumar S rang the opening bell May 6, along with members of Cognizant’s leadership team, local associates, LPGA Commissioner Mollie Marcoux Samaan, World Golf and LPGA Hall of Fame golfer Nancy Lopez, current LPGA Tour professionals In Gee Chun and Megan Khang, as well as members of the LPGA*USGA Girls Golf of Jersey Shore chapter. - PHOTO COURTESY OF NASDAQ INC.
Cognizant closes $1.3B Belcan acquisition
Dawn Furnas//August 28, 2024//
Listen to this articleCognizant completed its previously announced acquisition of Belcan LLC for approximately $1.3 billion in cash and stock.
In an Aug. 27 statement, the Teaneck-headquartered technology firm said the move strengthens its engineering capabilities; builds on its leadership in the Internet of Things and digital engineering practice areas; and increases its presence in the high-growth aerospace and defense services market. The deal was first unveiled June 10.
Founded in 1958, Belcan is a global supplier of engineering R&D services for customers across the commercial aerospace, defense, space, marine and industrial verticals. The former Cincinnati-based portfolio company of AE Industrial Partners employs more than 6,500 engineers and technical consultants. It serves clients primarily in North America and the U.K.
“We are delighted to officially welcome Belcan to Cognizant,” Cognizant CEO Ravi Kumar S. said in a statement. “We believe our combined capabilities, shared focus of providing value to our clients through distinctive technological expertise, and global scale and scope means we will be able to deliver high-quality solutions to a diverse mix of customers around the world.”
In June, Cognizant said Belcan CEO Lance Kwasniewski will continue to lead his team. Additionally, the company will continue under the Belcan name as an operating unit of Cognizant.
Updated guidance
Cognizant also updated its third quarter and full-year 2024 guidance to include the Belcan impact:
- Q3 revenue is expected to be $4.95 billion to $5.02 billion, an increase of 1.1% to 2.6% as reported, or an increase of 1.3% to 2.8% in constant currency, reflecting the impact of approximately one month of Belcan within the company.
- Full-year 2024 revenue is expected to be approximately $19.5 billion to $19.8 billion, an increase of 0.9% to 2.4% as reported and on a constant currency basis.
In January, Cognizant also finalized its acquisition of Thirdera for an undisclosed amount. That deal was announced only a month prior. The ServiceNow partner, based in Broomfield, Colo., specializes in workflow solutions.
