Cognizant Technology Solutions Corp. (CTSH), a provider of IT services and consulting, on Tuesday announced that it has entered into a five-year agreement with ERIKS, a supplier of industrial components.
The announcement did not disclose any financial terms or consideration for the agreement.
Under the agreement, the company will manage all of ERIKS' operational IT services and support the modernization and transformation of its technology stack.
The multi-year partnership is expected to improve operational efficiency, strengthen digital capabilities, and support ERIKS' plans to innovate and expand its business across Europe and other markets.
On Monday, Cognizant closed trading 0.13% higher at $84.05 on the Nasdaq.
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