Cognizant to Buy Belcan for $1.3B, Expands into Aerospace
Cognizant Technologies has agreed to acquire digital engineering firm Belcan for approximately $1.3 billion in cash and stock. This acquisition is expected to expand Cognizant's presence in the aerospace, defense, space, and automotive sectors. Belcan, owned by AE Industrial Partners since 2015, employs 60,000 people across 60 locations globally and counts Boeing, General Motors, Rolls-Royce, NASA, and the U.S. Navy among its clients.
As part of the acquisition, Belcan will continue to be led by its CEO Lance Kwasniewski and operate as a unit of Cognizant. This strategic move comes as Cognizant seeks to bolster its specialized service offerings amid an anticipated slowdown in client spending. Concurrently, Cognizant has adjusted its annual revenue forecast to a range of $18.9 billion to $19.7 billion, down from earlier projections.
