tech:

taffy

Cognizant Buys ING Facilities, Part Of $330M Deal

[Techtaffy Newsdesk]

Cognizant has expanded its relationship with ING U.S. to offer an array of insurance business process services. ING U.S. is the U.S.-based retirement, investment management, and insurance operations of Dutch-based ING Groep N.V. (NYSE: ING). The expanded agreement spans over seven-years, and is valued at $330 million.

Under the terms of the new agreement, Cognizant will hire more than 1,000 ING U.S. employees in Minot, North Dakota and Des Moines, Iowa, to create a  U.S.-based center of excellence for insurance and finance business process services. This center will be an integral part of Cognizant’s global delivery network, says the company. Cognizant currently provides business process services to some 40 clients in these industries.

As part of the multiyear agreement, Cognizant will purchase ING U.S.’s existing facility in Minot, North Dakota, and will sub-lease offices in the current ING U.S. facility in Des Moines, Iowa, providing business and workplace continuity for ING U.S. customers and the employees who will transition to Cognizant.

Also see:

TransUnion to acquire Neustar for $3.1B

TransUnion has signed a definitive agreement to acquire Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC.

Huvr raises $5M

Huvr, a cloud-based industrial asset management solution company, has raised $5 million.

American Express acquires fintech company Kabbage

American Express has entered into an agreement to acquire Kabbage, a financial technology company that provides cash flow management solutions to small businesses.

AP to equip visual journalists globally with Sony imaging products

Sony and The Associated Press (AP) have inked a collaboration that will make Sony the exclusive imaging products and support provider for AP news photographers and video journalists globally.

Equifax acquires Ansonia

Equifax has acquired Ansonia, a provider of business credit, collections, and account receivable data used by financial institutions, creditors, and businesses focused on the transportation and logistics industries.