TEANECK, N.J. – January 11, 2021 – Ness , a global provider of digital transformation solutions and portfolio company of The Rohatyn Group (TRG), announced today that it has signed an agreement to sell Linium, a ServiceNow platform focused services provider that operated as a business unit of Ness, to Cognizant.
Information technology company Cognizant on Monday announced to acquire Linium, a cloud transformation consultancy group its second acquisition in a single day after acquiring Servian, an Australia-based, enterprise transformation .
Cognizant to Acquire Linium
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TEANECK, N.J., Jan. 11, 2021 /PRNewswire/ Cognizant (Nasdaq: CTSH) announced today it has agreed to acquire Linium, a cloud transformation consultancy group specializing in the ServiceNow platform and solutions for smart digital enterprise workflows. Linium, operating as the ServiceNow business unit of Ness Digital Engineering, a privately-held portfolio company of The Rohatyn Group, helps Fortune 100 clients and others leverage cloud technology to improve operational efficiency and user experience.
Completing this transaction will further accelerate Cognizant s cloud strategy, marking the company s seventh cloud-related acquisition since January 2020, and continued investment in expanding capabilities in the strategic focus areas of cloud, data and artificial intelligence, digital engineering, and Internet of Things. Including Linium, Cognizant has announced approximately $1.4 billion in ac
OTPP to invest $275m in South Korean fried chicken chain BHC Group
Seoul, South Korea. Premium
Canadian pension fund Ontario Teachers’ Pension Plan (OTPP) has agreed to invest 300 billion won ($275 million) in South Korean fried chicken restaurant chain BHC Group, valuing the franchise at 1.8 trillion won ($1.6 billion), according to a report.
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Chae-Yeon Kim Dec 16, 2020 (Gmt+09:00)
ENG
The Ontario Teachers Pension Plan (OTPP) has agreed to invest 300 billion won ($275 million) in South Korea’s leading fried chicken brand BHC Group, valuing the franchise at 1.8 trillion won ($1.7 billion), according to investment banking sources on Dec. 16.
The Canadian pension fund has recently signed an agreement to buy shares in a special purpose company (SPC) that owns BHC from its existing shareholders, including Asia-based Elevation PE.
The SPC was formed in 2018 by BHC Chairman Park Hyun-jong, MBK Partners’ inaugural Special Situations Fund (SSF) and Elevation PE, formerly known as Rohatyn Group (TRG), to acquire the chicken franchise for 680 billion won. Back in 2013, Elevation PE alone had acquired BHC from another Korean chicken company for about $100 million.