TEANECK (dpa-AFX) - Cognizant Technology Solutions Corp. (CTSH) Wednesday said that it has signed a five-year deal with German multi-sector trading company BayWa to drive digital transformation and streamline IT service operations. Under the agreement, Cognizant will be responsible for BayWa's core IT services and integrate a corresponding number of BayWa employees.
The American IT company said that the collaboration covers IT infrastructure, application management, service desk, and workplace services. Centralizing these functions is expected to enhance efficiency through synergies, supported by the adoption of AI, automation, and ongoing modernization, Cognizant added.
Commenting on the partnership, Andreas Golze, Managing Director, Cognizant's DACH Region, said, 'We look forward to contributing our expertise in digitalization and sustainable innovation to BayWa's digital transformation.'
On the NASDAQ, CTSH ended Tuesday's trading at $80.95, up $0.24 or 0.30 percent.
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