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United States : COGNIZANT inks $2.7 billion definitive agreement to acquire TRIZETTO CORPORATION [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) Cognizant Technology Solutions has inked a definitive agreement to acquire Englewood, based TriZetto Corporation in a cash deal worth $2.7 billion, subject to customary adjustments. TriZetto is a leading provider of healthcare IT software and solutions. Francisco D'Souza, CEO of Cognizant, said, Healthcare is undergoing structural shifts due to reform, cost pressure and shifting responsibilities between payers and providers. This creates a significant growth opportunity, which TriZetto will help us capture. We are excited that the integrated portfolio of capabilities across technology and operations will uniquely position us to help clients drive higher levels of operational efficiency, while re-imagining care for the future. We look forward to welcoming the TriZetto team into the Cognizant family and creating a truly differentiated and sustainable foundation for healthcare. This acquisition is expected to significantly accelerate Cognizant's market position and strategy of delivering innovative healthcare software and solutions to a wide range of healthcare clients. TriZetto would add significant and complementary new market opportunities, expertise and intellectual property, to Cognizant, to include Multiple industry-leading software platforms used by payers and providers; Enhanced competitiveness in integrated engagement opportunities; Approximately $1.5 billion of potential revenue synergies cumulatively over the next five years; and Attractive, non-linear software revenue. Following this acquisition, TriZetto and its 3,700 employees will become part of Cognizant's existing healthcare business, that serves nearly 200 clients, including 16 of the top 20 U.S. health plans and four of the top five pharmacy benefit management companies. Jude Dieterman, President and COO of TriZetto, said, TriZetto solutions enable the healthcare interactions of millions of people in the U.S. every day. Our agreement with Cognizant advances our vision of simplifying healthcare for everyone. We believe the combination of Cognizant and TriZetto's talented employees and innovative technology and operations will have a meaningful impact on the way health is managed and care is delivered. Gordon Coburn, President of Cognizant, said, Cognizant and TriZetto have had a long-term relationship, having jointly served a number of healthcare clients to date. This acquisition is a natural fit for us. It represents a great opportunity to integrate services across our three horizons traditional IT services; high-growth businesses such as management consulting, business process services and IT infrastructure services; and emerging delivery models and provide even greater value to our clients. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |