M&A Deal Summary

Cognizant Acquires Frontica Business Solutions AS

On November 28, 2016, Cognizant acquired staffing company Frontica Business Solutions AS from Akastor ASA

Acquisition Highlights
  • This is Cognizant’s 1st transaction in the Staffing sector.
  • This is Cognizant’s 1st transaction in Norway.

M&A Deal Summary

Date 2016-11-28
Target Frontica Business Solutions AS
Sector Staffing
Buyer(s) Cognizant
Sellers(s) Akastor ASA
Deal Type Divestiture

Target

Frontica Business Solutions AS

Fornebu, Norway
Frontica Business Solutions AS is involved in providing staffing, consulting, technology and other outsourcing services.

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Buyer(S) 1

Buyer

Cognizant

Teaneck, New Jersey, United States

Category Company
Founded 1988
Sector Information Technology
Employees336,800
Revenue 19.7B USD (2024)
DESCRIPTION
Cognizant's office in Hyderabad, India.
Cognizant's office in Hyderabad, India.

Cognizant is a provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Cognizant was incorporated in 1994 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 19 of 56
Sector: Staffing M&A 1 of 3
Type: Divestiture M&A Deals 4 of 9
Country: Norway M&A 1 of 1
Year: 2016 M&A 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-28 Idea Couture

Toronto, Ontario, Canada

Idea Couture, Inc. is a provider of digital innovation, strategy, design and technology services. Idea Couture operates where design meets business, insight meets foresight, and empathy meets economics.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-29 Mirabeau BV

Amsterdam, Netherlands

Mirabeau BV is a marketing digital agency with experts in the fields of customer experience design, marketing, development and cloud services.

Buy -

Seller(S) 1

SELLER

Akastor ASA

Lysaker, Norway

Category Company
Sector Diversified
DESCRIPTION

Akastor ASA is an investment company based in Norway with a portfolio of companies in the oilfield services sector in addition to other smaller-sized holdings. The portfolio companies of Akastor were organized as independent companies following the demerger of Aker Solutions ASA in September 2014. Akastor was the surviving entity in the demerger, and subsequently has been established as an investment company with independent portfolio companies, responsible for all aspects of their own operations.


DEAL STATS #
Overall 2 of 2
Sector: Staffing M&A 1 of 1
Type: Divestiture M&A Deals 2 of 2
Country: Norway M&A 2 of 2
Year: 2016 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-27 Fjords Processing AS

Fornebu, Norway

Fjords Processing AS is a provider of wellstream processing technology, systems and services to the upstream oil and gas industry.

Sell Nkr1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-22 Cool Sorption

Copenhagen, Denmark

Cool Sorption is a specialist supplier of Vapour Recovery Units (VRU) and systems. Cool Sorption enjoys a complete product portfolio, which ranges from small compact units to the industry’s most complex systems, making it a recognized technology provider worldwide. Cool Sorption is based in Copenhagen, Denmark.

Buy kr.20M