Nasdaq-listed IT company Cognizant has acquired digital marketing company Cadient Group, that serves a broad spectrum of life sciences companies, for an estimated $30 million.
“In an increasingly competitive industry with many digitally active stakeholders, the acquisition of Cadient Group will complement Cognizant’s digital and interactive solutions capability,” Cognizant’s Vice President and Global Markets Leader, Life Sciences Practice Shankar Narayanan said in a statement.
Cadient clients are spread across pharmaceutical, biotechnology, consumer health and medical device industries.
Cognizant has large presence in India. Its Healthcare and Life Sciences Practice group will manage the acquired company.
When contacted about the deal size, a Cognizant spokesperson said, “Cadient’s revenue is around $20 million and we paid approximately 1.5 times of the revenue.”