Cognizant acquires Frontica Business Solutions for USD128m
Cognizant has agreed to buy Norwegian IT and BPO services provider Frontica Business Solutions for about NWK1.02bn (USD128m), as it looks to expand in northern Europe. Frontica, which offers IT solutions in the oil-and-gas space, has over 1,000 employees and is owned by Norway-listed oil service investment company Akastor ASA. In a press release, Frontica said it has embarked on a transformation agenda to shift the company from a predominantly internally-focused shared service unit to becoming a broader commercial provider of ITO and BPO services within the oil and gas industry. Cognizant president for global growth markets, Santosh Thomas, said the acquisition will help the company strengthen its oil and gas industry expertise and expand its presence in key markets.
