Monday, September 15, 2014

TriZetto Acquired By Cognizant For $2.7 Billion

Englewood, Colorado-based healthcare IT provider TriZetto has agreed to be acquired by Cognizant, in a deal worth $2.7 billion in cash, the two said this morning. Cognizant, a provider of information technology, consulting, and business process outsourcing, said that the deal would "accelerate significantly" its market position and strategy. TriZetto has 3,700 employees. Cognizant did not say what kind of effect the deal would have on TriZetto's employment in Colorado.Cognizant was advised by Credit Suisse, UBS Securities LLC and Centerview Partners, as well as Latham & Watkins LLP and Nishith Desai Associates. TriZeeto was advised by JP Morgan Securities LLC, Goldman, Sachs & Co. Legal and Kirkland & Ellis LLP. TriZetto had been owned by private equity firm Apax Partners.