US-headquartered outsourcing firm Cognizant is embarking on an aggressive acquisition spree, with plans to achieve five to ten deals annually. Most of the deals will continue to be smaller tuck-in deals, said Karen McLoughlin, chief financial officer at Cognizant. But while most of the deals will be tuck-in, they need not necessarily be small. A tuck-in deal could be anywhere up to a couple of hundred million dollars, she added. McLoughlin also did not rule out the possibility of Cognizant making larger acquisitions. Cognizant is targeting 22% margins by 2019. For this year, the company said its operating margin will be about 19.5%.
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