Cognizant, a provider of information technology, consulting, and business process outsourcing services, has announced it will fork out US$2.7 billion in cash to acquire Colorado-based TriZetto, which focuses on healthcare IT software and service solutions.
The combined company will have more than US$3 billion in healthcare revenue and will serve nearly 245,000 healthcare providers, as well as approximately 350 payers with roughly 180 million covered lives in the US.
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Cognizant CEO Francisco D’Souza said both companies are looking to the future of IT operations in the healthcare field and said the “as-a-service” solution was a way to combine services, software and analytics, for a modern adaptable approach.
Latham & Watkins advised Cognizant on international law matters. The company’s long-time legal adviser, Nishith Desai Associates, offered advice on Indian legal and tax issues.
Kirkland & Ellis represented TriZetto on the deal.
The TriZetto takeover comes just a few months after Cognizant snapped up itaas, a digital video solutions company with headquarters in Atlanta, Georgia, and R&D facilities in India and Canada, to increase its competitiveness in the multi-screen and video market.
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