Ygyan is a five-year-old company with revenues of $three million. Ygyans main development centre is based in Pune with presence in Singapore, Malaysia and the UK. Ygyan has 85 consultants in SAP practice, offering the entire range of SAP services both in the domestic and global markets.
We are looking forward to becoming a part of Cognizants global team, Anant Padmanabhan, managing director of Ygyan, stated in a note issued by the company.
We believe that being a part of a world-class company like Cognizant provides the opportunity to best leverage our excellent niche skills. The transaction is expected to be completed by the end of February.
This acquisition would provide Cognizant additional depth to its SAP practice and provide an opportunity to cross-sell its core services to Ygyans client base.
Ygyan would also augment Cognizants ability to deliver offshore application management projects, large implementation projects, SAP version upgrades, and ABAP development projects.
Ygyan also has expertise in all SAP modules including the BusinessWarehouse and CRM. The company has been the local resource partner of SAP India for maintaining and implementing SAP projects since 2000. Ygyan was also recently selected as a channel partner of SAP India for the mySAP All-in-One solutions.
This is in line with Cognizants strategy of making focused acquisitions to meet specific needs. Cognizant is seeing increased demand from our customers for many SAP services, including upgrading and enhancing their SAP applications, and ongoing maintenance and support, states John Beaumont, SAP Practice Head for Cognizant.
Meanwhile, Cognizant is also increasing its headcount at its Pune operations from 1,000 to 1,500 by the end of the year, and will add 1,000 more in 2005. Cognizant plans to invest Rs 35 crore in a second facility. Pune is being developed as the banking centre of excellence. About 48 per cent of Cognizant.