Cognizant Technology Solutions Corp. said it has acquired Cadient Group, a digital marketing agency focused on drug and medical equipment companies, which would complement the IT outsourcing company’s large health care unit.
The acquisition provided investor Edison Partners an exit, although the private equity and venture capital firm didn’t disclose details in its own separate statement.
The “tuck-in” acquisition brings Teaneck, New Jersey-based Cognizant more than 100 specialists in digital marketing, the company said in an emailed statement on Tuesday, without giving financial details.
Edison Partners, however, said in its statement that it invests in growth-stage companies that have revenues in the range of $5 million to $20 million, in the areas of financial technology, health care IT, enterprise IT and interactive marketing.
Pennsylvania-based Cadient Group has more than a decade of experience in providing digital strategy, marketing, and technology and analytics solutions to industry leaders and emerging companies in the life sciences industry, Cognizant said in the statement.
Cognizant, which has the bulk of its staff at centers in India, competes with India’s Tata Consultancy Services Ltd. and Infosys Ltd. for IT orders. In the health care area, however, it has a strong lead over them.
It recently widened that lead by buying TriZetto Corp., a privately held provider of software platforms to health insurers and hospitals, for $2.7 billion in an all-cash deal.
Cadient also has an India connection via a center in the western Indian city of Pune. The company was advised by Petsky Prunier, a New York investment bank specializing in technology, media, marketing, e-commerce and health care industries.