{"id":3715,"date":"2016-10-04T00:00:00","date_gmt":"2016-10-04T00:00:00","guid":{"rendered":"http:\/\/localhost\/projects\/horsesforsources\/cognizant-frontica\/"},"modified":"2016-10-04T00:00:00","modified_gmt":"2016-10-04T00:00:00","slug":"cognizant-frontica","status":"publish","type":"post","link":"https:\/\/www.horsesforsources.com\/cognizant-frontica\/","title":{"rendered":"Cognizant splashes out $128 million to bolster Oil & Gas practice"},"content":{"rendered":"
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With the realization firmly sinking that the new normal in Oil & Gas is “lower for longer,” it is hard to find service providers investing heavily to build out their Oil & Gas Practice. That is, until Cognizant announced plans to acquire Frontica’s IT outsourcing and BPO business for $128 million, a service provider born in the Oil & Gas industry.<\/p>\n
Frontica hails from one of the largest hydrocarbon rich areas in Europe—Norway—and specializes in ITO and BPO services for Oil & Gas. Frontica has been on a transformative journey the last couple of years, reorienting itself from the internally focused shared services unit of oilfield service company Aker Solutions until 2014. At that time it started operating as a separate ITO and BPO service provider in Oil & Gas. It has a healthy portfolio of contracts such as the 5 year deal signed in February 2016 with former parent Aker Solutions, which is valued at between $ 116 million and $ 145 million annually. <\/p>\n
Frontica’s ITO services are focused on SAP consulting, application maintenance and development, IT infrastructure, implementation services, IT support for mergers and demergers (good business in Oil & Gas). BPO services focus on HR and payroll, F&A, operational procurement, category management and sourcing. <\/p>\n