53 Belcan, headquartered in Cincinnati and owned by private equity firm AE Industrial Partners since 2015, boasts a workforce of 10,000 employees spread across 60 global locations. With esteemed clients like Boeing, General Motors, Rolls-Royce, NASA, and the U.S. Navy, Belcan has established itself as a trusted partner in the industry. Cognizant CEO Ravi Kumar expressed enthusiasm about the acquisition, highlighting the accelerated growth trajectory of the aerospace and defense sector compared to traditional IT services. Kumar emphasized the strategic alignment between Belcan’s engineering expertise and Cognizant’s strengths in industrial manufacturing and automotive, foreseeing significant synergies and cross-pollination of services. Under the terms of the deal, Belcan will continue to operate autonomously under the leadership of its CEO, Lance Kwasniewski, as a unit within Cognizant’s organizational structure. With a market value of $33 billion, Cognizant aims to bolster its capabilities in specialized domains to navigate potential slowdowns in client spending effectively. The acquisition reflects Cognizant’s commitment to strategic growth and diversification in the rapidly evolving digital landscape. You Might Be Interested In Power Plant Handover Set for Tanzania, Burundi, and Rwanda UnitedHealth Reports Potential Data Breach, Suggesting Hackers May Have Accessed Data of a Third of Americans How BRI embraced ESG and DEI while serving Indonesia’s unbanked population Apple Inc. plans to move a portion of its manufacturing outside of China Stocks making the biggest moves midday: PD, DELL, Tesla, and more EU Proposes Three-Tiered System to Regulate AI, A First in the Western World
