Cognizant-CoreLogic deal seals @ $50 mn

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Cognizant and CoreLogic announced an agreement in Bengaluru. Cognizant has acquired CoreLogic Global Services' captive operations in India. The deal will be sealed for $50 million. CoreLogic and Cognizant will enter into a services agreement with a minimum revenue commitment of $324 million, plus applicable inflation adjustments, over five years with various renewal and extension rights, under which Cognizant would provide a range of services to CoreLogic globally.

The companies expect to provide end-to-end business process and analytics solutions across the mortgage value chain. CoreLogic India, whose approximately 4,000 associates would become employees of Cognizant at closing, provides, among others, capabilities in software product development and technology support to CoreLogic and its customers, primarily in the US mortgage and real estate markets.

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