Cognizant, announced it has agreed to acquire Houston-based Utegration, a full-service consulting and solutions provider specialising in SAP technology and SAP-certified products for the energy and utilities sectors. Cognizant will gain approximately 350 employees in North America and India upon the close of the acquisition.
Utegration serves 50+ North America-based clients in the energy and utilities sector with solutions across four domains aligned to key market needs: Customer Experience, Billing and Advanced Metering Infrastructure; Managed Services; Data Science and Analytics; and Finance and Asset Performance Management. The company’s portfolio of industry-specific custom solutions includes: Utility4U, MeterData4U, Finance4U and LoadPlanning4U.
Independent industry analyst Gartner forecasts global IT spending in the power and utilities market to reach about $175 billion by year-end 2022. Demand is accelerating, driven by clean energy initiatives, grid modernisation, and customer experience management initiatives.
“We believe Utegration’s rich industry expertise and differentiated portfolio of energy and utilities-focused products and accelerators is a perfect complement to our SAP practice,” said Rob Vatter, Executive Vice President of Cognizant’s Enterprise Platform Services.
“Utegration has grown with a singular focus on the needs of energy and utilities businesses, and becoming part of Cognizant expands the scope and scale we have to deliver for clients, including beyond the energy sector,” said Bart Thielbar, President and CEO, Utegration.