Cognizant is set to acquire Houston-based Utegration, a consulting and solutions provider specializing in SAP technology and SAP-certified products for the energy and utilities sectors.
Cognizant will gain approximately 350 employees in North America and India upon the close of the acquisition.
Utegration serves 50+ North America-based clients in the energy and utilities sector with solutions across four domains aligned to key market needs: Customer Experience, Billing and Advanced Metering Infrastructure; Managed Services; Data Science and Analytics; and Finance and Asset Performance Management.
The acquisition is expected to close by year-end 2022. Financial details were not disclosed.
Gartner forecasts global IT spending in the power and utilities market to reach about $175 billion by year-end 2022. Demand is accelerating, driven by clean energy initiatives, grid modernization, and customer experience management initiatives.
