Cognizant, a provider of consulting, technology, and business process outsourcing services, has agreed to acquire UBS India Service Centre Private (UBS ISC), the Hyderabad-based captive service provider to the UBS Group.
As part of the transaction, UBS and Cognizant have entered into a multi-year services agreement under which Cognizant will provide a range of business process outsourcing (BPO), knowledge process outsourcing (KPO), IT, and remote infrastructure management services to UBS divisions around the globe to enable them to reduce time-to-market, expand service delivery, and enhance productivity, operational efficiency, and quality.
The UBS ISC currently employs approximately 2,000 associates. Their capabilities in wealth management, investment banking, asset management, research, and remote IT infrastructure management will help Cognizant strengthen its business and knowledge process capabilities, deepen its financial services domain knowledge, and enhance its capabilities to provide integrated services across consulting, technology, and outsourcing.
Subject to the satisfaction of certain closing conditions, the transaction is expected to close around the end of 2009.
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