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Cognizant acquires itaas

| | Apr 23, 2014, at 01:31 am
#Cognizant acquires itaas # Cognizant acquires itaas
Teaneck,Apr 22 (IBNS): Cognizant on Tuesday announced that it has entered into a definitive agreement to acquire itaas, a digital video solutions company headquartered in Atlanta, Georgia.
The terms of the transaction were not disclosed.
 
Founded in 1999, itaas helps leading cable, telecommunications, and technology companies to deliver a broad range of digital video services across traditional cable, broadcast, and telecommunications network environments and on consumer devices such as set-tops, tablets, and smartphones. 
 
With approximately 200 professionals in the U.S., Canada, and India, itaas enables television providers and broadcasters, particularly cable channels, to deliver authenticated live streaming and video services on digital platforms, thus adding value to existing television subscriptions and delighting subscribers with exclusive viewing experiences any time, anywhere, and on any device.
 
As more viewers look to access internet video content directly via TV, communications players are seeking out open platforms to reduce time-to-market, while digital device companies are focusing on bundling content with connected devices. The acquisition will enable Cognizant to capitalize on the growing demand for greater interactivity, higher personalization, and innovative content delivery in the multi-screen and video market.
 
The end-to-end digital video engineering and multiplatform capabilities of itaas will extend and complement Cognizant’s existing capabilities serving the communications, media, and hi-technology industries. The expanded capabilities will also support other industries such as banking, retail, and healthcare, which are rolling out advanced customer and business platforms centered on video. 
 
“We welcome itaas’ talented professionals to Cognizant,” said Rajeev Mehta, Chief Executive Officer of IT Services at Cognizant.
 
 “This acquisition continues our long-standing strategy of acquiring sharply focused business capabilities that complement our existing offerings. The company’s strong client focus and deep business and technology insights into the entire video ecosystem, combined with Cognizant’s global consulting and delivery capabilities, will create greater value for our mutual clients," he said.
 
"As multiplatform video becomes the new normal, new technologies create more empowered and savvy consumers, and more industry sectors look to harness the potential of video for customer interaction, this acquisition strengthens our ability to help enterprises challenge the status quo, and create new business models in response to market shifts and competitive pressures in their industry segments," he added.
 
“ International expansion is critical for us to continue our strong growth and provide greater opportunities for our employees. The agreement announced today is a major step forward for us. With a shared commitment to client satisfaction and delivery excellence, we can drive future diversification based on our combined strengths," said Vibha Rustagi, President and CEO, itaas. 
 

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