Reuters: Technology News: Cognizant enters into $330 million deal with ING U.S

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Cognizant enters into $330 million deal with ING U.S Jun 14th 2012, 17:33 Thu Jun 14, 2012 1:33pm EDT (Reuters) - Information technology services provider Cognizant Technology Solutions Corp (CTSH.O) said it entered into a $330 million deal with the U.S. unit of Dutch insurer ING Groep NV (ING.AS) to expand the business process management contract between the two companies. Under the deal, Cognizant will purchase ING's facility in North Dakota and sub-lease some of the insurer's offices in Iowa. More than 1,000 ING U.S. employees will be transferred to Cognizant under the seven-year deal. The new center will be an integral part of Cognizant's global delivery network and will allow the company to provide an expanded range of business process services in the insurance and financial services industries, the IT services firm said. Cognizant will provide "a comprehensive array of insurance business process services" to ING U.S., a provider of retirement, investment management and insurance services. Shares of the Teaneck, New Jersey-based Cognizant were up about 1 percent at $59.18 on Thursday on the Nasdaq.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions