PA Consulting Group, Ltd., a UK-based management, systems, and technology consulting firm, has denied media reports over its acquisition talks with Cognizant Technology Solutions Corporation, a US-based provider of IT consulting, technology, and business process services.
PA Consulting confirmed that the media report, which has also appeared in a range of other publications, is without foundation and factually inaccurate from beginning to end. The company elucidated that there is no truth at all in the allegation of its acquisition, nor any part, nor in the possibility of alliances, partnerships or the like.
Rumor (April 20, 2009):
According to Reuters, The Economic Times reported that Cognizant is considered to have plans to acquire PA Consulting. Reportedly, the consideration may range between $300 million to $350 million.
Deal Value (US$ Million) 350
Deal Type Acquisition
Sub-Category Majority Acquisition
Deal Status Dead Rumour: 2009-04-20
Deal Participants
Target (Company) PA Consulting Group, Ltd.
Acquirer (Company) Cognizant Technology Solutions Corporation
Deal Rationale
The transaction would enable Cognizant Technology Solutions to strengthen its presence in Europe.
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