Cognizant has signed a definitive agreement to acquire UBS India Service Centre Private Limited (UBS ISC), the Hyderabad, India-based captive service provider to the UBS Group.

As part of the transaction, UBS and Cognizant have entered into a multi-year services agreement under which Cognizant will provide a range of business process outsourcing (BPO), knowledge process outsourcing (KPO), IT, and remote infrastructure management services to UBS divisions around the globe. Undertaking the service agreement will enable UBS to reduce time-to-market, expand service delivery, and enhance productivity, operational efficiency, and quality.

UBS' experience in wealth management, investment banking, asset management, research, and remote IT infrastructure management will help Cognizant strengthen its business and knowledge process capabilities, extend its financial services domain knowledge, and support its capabilities to provide integrated services across consulting, technology, and outsourcing.

Ulrich Körner, Group Chief Operating Officer of UBS AG, commented: “Cognizant’s broad banking and financial services expertise and its cultural fit with UBS complement the competencies provided by the India Service Centre today, while providing technology capabilities that expand the services we can buy from India and support our cost savings, efficiency and flexibility objectives.”