IT Majors Cognizant, Wipro Announce Acquisitions

Information Technology Services firms Cognizant and Wipro announced acquisition of a BPO services provider and an IT consulting firm respectively.
Wipro has invested $809,690 (about Rs. 5.12 crore) in management and IT consulting firm Drivestream.

Cognizant says it will purchase Health Care Service Corporation's (HCSC) subsidiary TMG Health for an undisclosed amount. The transaction will strengthen Cognizant's offerings in the government and public health space.

"TMG Health will soon enter into a new, expanded multi-year service agreement and will continue to provide IT, business process and other services to HCSC's various operating units and subsidiaries," Cognizant said in a report.

The transaction is expected to close in the third quarter of 2017, it added.

In the statements no financial details were disclosed. TMG Health, an HCSC subsidiary since 2008, has offices in Pennsylvania and Texas. It is a provider of BPO services to various medical support programmes in the US.

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