Cognizant Strengthens Engineering Muscle with $1.3B Belcan Buyout: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 10 2024
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Source: Benzinga
- Acquisition Deal: Cognizant Technology Solutions Corporation is acquiring Belcan, LLC for about $1.3 billion in cash and stock.
- Strategic Benefits: The acquisition will enhance Cognizant's ER&D capabilities, strengthen its IoT and Digital Engineering leadership, and expand access to the ER&D services market.
- Expected Revenue: The acquired business is projected to contribute over $800 million annually to Cognizant in 2024.
- Synergies and Shareholder Value: Cognizant anticipates achieving revenue synergies, growth opportunities, and enhancing shareholder value through the deal.
- Leadership and Funding: Belcan's CEO will continue to lead the company under Cognizant, which plans to fund the acquisition through a mix of cash on hand and debt.
Analyst Views on QVAL
Wall Street analysts forecast QVAL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QVAL is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 51.600
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
