Cognizant, a leading business process outsourcing (BPO) and IT consulting company, announced it has acquired Equinox Consulting, a financial services consulting firm based in Paris, France.
The terms of the transaction were not disclosed.
The acquisition will help Cognizant reinforce its position as one of the top consulting companies across the region. The company will be better positioned to create new business and IT models in response to secular shifts in the economy and technology.
Equinox Consulting provides business consulting services across investment banking, asset management, retail banking, insurance, and specialized financial services. It has deep regulatory consulting expertise in addition to strategic consulting, organization management and more.
Following the acquisition, about 160 consulting professionals of Equinox will join Cognizant.
The combination of Cognizant’s global consulting and delivery capabilities and Equinox’s consulting expertise will further enhance Cognizant’s integrated global platform for financial services clients, and help improve performance efficiencies as well as “run different” by building new business capabilities and driving innovation.
Jean-Francois Rigal, chief executive officer of Equinox Consulting, says, “The outstanding growth and success of Equinox Consulting in the last nine years have been built on the foundation of customer satisfaction, deep industry expertise, and specialized knowledge around regulatory mandates.”
According to Rigal, international expansion and the ability to deliver broader consulting solutions to clients are critical for the company to continue its growth and provide greater opportunities for its employees.