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Cognizant Acquires itaas

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TEANECK, N.J. -- Cognizant (NASDAQ: CTSH) today announced that it has entered into a definitive agreement to acquire itaas, a digital video solutions company headquartered in Atlanta, Georgia. The terms of the transaction were not disclosed.

Founded in 1999, itaas helps leading cable, telecommunications, and technology companies to deliver a broad range of digital video services across traditional cable, broadcast, and telecommunications network environments and on consumer devices such as set-tops, tablets, and smartphones.

With approximately 200 professionals in the U.S., Canada, and India, itaas enables television providers and broadcasters, particularly cable channels, to deliver authenticated live streaming and video services on digital platforms, thus adding value to existing television subscriptions and delighting subscribers with exclusive viewing experiences anytime, anywhere, and on any device.

As more viewers look to access internet video content directly via TV, communications players are seeking out open platforms to reduce time-to-market, while digital device companies are focusing on bundling content with connected devices. The acquisition will enable Cognizant to capitalize on the growing demand for greater interactivity, higher personalization, and innovative content delivery in the multi-screen and video market.

Cognizant Technology Solutions US Corp. (Nasdaq: CTSH)

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