Multi-Year Relationship Positions Several of Aker's Companies for Digital Transformation, Expands Cognizant's Global Oil and Gas Industry Presence
Cognizant (NASDAQ: CTSH) today announced that it has become the exclusive digital systems, technology and operations services partner for multiple portfolio companies of Norway-based Aker (OSLO:AKER), a leading industrial investment company.
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.
"Cognizant has an impressive track record of delivering an excellent customer experience," said Kristian Monsen Røkke, CEO at Akastor. "Our customers can look forward to the increased benefits of Cognizant's global platform, broad technology and digital expertise in a time of transformation for our industry."
"We look forward to helping the Aker companies achieve their goals of transforming their operations for greater agility, and welcome Frontica's talented employees into the Cognizant family. Together, we will create even greater value for our clients in the Nordics and other geographies," said Santosh Thomas, President, Global Growth Markets, at Cognizant. "Leveraging Frontica's specialized capabilities and expertise, we will further strengthen our oil and gas industry and technology capabilities, expand our presence in key markets, and enrich our service offerings to clients."