Cognizant (NASDAQ: CTSH) has become the exclusive digital systems, technology and operations services partner for multiple portfolio companies of Norway-based Aker (OSLO:AKER), the company said.
As part of the multi-year relationship, Cognizant will help several of Aker´s industrial portfolio companies lay the foundation for digital transformation of their businesses, while driving cost efficiencies and business agility by simplifying, modernizing and enhancing security of their applications and IT infrastructure.
In addition, Cognizant has acquired the technology and business process services unit of Frontica Business Solutions AS. Frontica is a portfolio company of Norway-based oil-services investment company Akastor ASA (OSLO: AKA) that provides consulting and technology services to a number of Akers´ industrial portfolio companies. Approximately 500 employees from Frontica across the Nordics, Malaysia, the United Kingdom, Brazil and the United States will join Cognizant, expanding Cognizant´s presence and expertise in several key oil and gas industry markets.
Akastor ASA is an oilfield services investment company with a flexible mandate for long-term value creation. The company exercises active ownership combining a range of strategic, operational and financial measures to develop and unlock the full value potential of its portfolio of companies. Akastor ASA employs approximately 3,000 people.
Cognizant provides information technology, consulting, and business process services, dedicated to helping the world´s leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (US), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work.