Ex CEO of Cognizant may come up with $1 bn private equity fund
By MYBRANDBOOK
The ex CEO of Cognizant, Francisco D’Souza along with others is planning to come up with a $1 billion US-based private equity fund called Recognize. He has already raised a couple of hundred million dollars. The rest of the fund raising is still going on.
As per news source, he has big names from the US private equity and technology spaces in his teams. The fund - Recognize will invest in niche technology assets and has technologists with deep domain expertise both in services and software. The news source also revealed that it is looking at M&As as part of its investment strategy.
As CEO of Cognizant, Francisco D’Souza was a successful leader and helped the company to grow manifolds. He took the revenue of the company from $1.4 billion in 2006 (just before he took over) to $16 billion in 2018, when he stepped down. During his tenure, Cognizant’s headcount grew from 39,000 to 2.8 lakh.
D’Souza’s fund raise comes at a time when private equity dealmaking has slowed down on account of the Covid-19 pandemic. In the first half of 2020, the PE deal value in the US totalled $326.7 billion, 20% lower than in the same period of last year, according to PE research firm Pitchbook.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
BHARAT ELECTRONICS LTD.
TALLY SOLUTIONS PVT. LTD.
STERLITE TECHNOLOGIES LTD.
GLOBUS INFOCOM LTD.
Technology Icons Of India 2023: Rajiv Memani
As Chair of the EY Global Emerging Markets Committee, Rajiv connects e...
Technology Icons Of India 2023: Ritesh Agarwal
Ritesh Agarwal Founder & CEO of OYO Hotels & Homes-World’s fastest g...
Technology Icons Of India 2023: Anant Maheshwari
As President of Microsoft India, he is responsible for Microsoft’s o...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
NPCI leading India towards Digital payments
The National Payments Corporation of India (NPCI) is an initiative tak...
Leading company into fertilizers in the country
NFL is a dynamic organization committed to serve the farming community...
ACCERON INFOSOL PVT. LTD.
It is a leading value added distributor in the IT security space and h...
SONATA INFORMATION TECHNOLOGY LIMITED
Sonata Software Limited is a leading Modernization engineering company...
TEXONIC INSTRUMENTS
Texonic has carved a niche for itself in the Technology Distribution i...