Cognizant said it would buy Dutch digital marketing and customer experience agency Mirabeau BV, to expand its digital expertise in the Netherlands and Europe. It did not disclose the terms of the transaction.
Mirabeau works with brands such as KLM, ING, Air France, Maxeda, MoneYou, LeasePlan.com, and Transavia.
The 15-year old digital firm has 260 specialists who will join Cognizant after the close.The acquisition aims to develop strategies, and then design, prototype, and scale meaningful product and service experiences.
This is the second acquisition by Cognizant in North EU.
In Oct, the company purchased Norwegian IT and BPO services provider
Frontica Business Solutions for about $128 million.
The IT-BPM sector is currently valued at US$ 143 billion.
It is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.3 per cent year-on-year to US$ 143 billion for 2015-16.
The sector is expected to contribute 9.5 per cent of India’s Gross Domestic Product (GDP) and more than 45 per cent in total services export in 2015-16.
India’s IT Sector- With 67 per cent of the US$ 124-130 billion market, India is world’s largest sourcing destination for IT industry.
- Employs about 10 million workforces.
- Expected to grow at a rate of 12-14 per cent for FY2016-17 in constant currency terms.
- Sector is also expected triple its current annual revenue to reach US$ 350 billion by FY 2025.
- With more than 4,200 start-ups, India ranks third among global start-up ecosystems.
