Cognizant Technology Solutions Corporation (NASDAQ:CTSH) inked a definitive agreement to acquire Belcan, LLC, a portfolio company of AE Industrial Partners, for about $1.3 billion in cash and stock, subject to customary adjustments. The total purchase price includes $1.19 billion in cash and a fixed 1.47 million Cognizant shares, valued at around $97 million based on Cognizant’s closing share price on Friday, June 7, 2024. The acquisition will boost Cognizant’s ER&D capabilities and strengthen its IoT and Digital Engineering leadership. With this deal, Cognizant expects to significantly expand its access to the ~$190 billion ER&D services market, projected to grow at over a 10% CAGR through 2026. The transaction is expected to close in the September 2024 quarter, pending receipt of necessary regulatory approvals and fulfillment of other closing conditions. The revenue the acquired ...