Inter-industry mix integration and absorption are prevalent strategies for reducing complexity in execution while increasing profit. They can also be used independently.
Conglomerate mergers between the IT and digital marketing industries are evident and have experienced a measurable uptick, which has fueled the increase in the IT industry mix.
CTS IT, a renowned global provider of technology services, serves a variety of industries, including life sciences. The company has been working in the life science market for some time and has improved its position through acquisitions.
Let's examine CTS IT's digital marketing strategy in this framework, as well as its most recent acquisitions for the life science sector.
To increase the scope of its offerings, CTS IT has purchased many businesses in the life sciences sector. Here are a few of its most recent acquisitions:
Birlasoft: To increase its skills in the life science sector, CTS IT purchased Birlasoft in 2021, a leading provider of worldwide IT services. Clinical research, drug safety, and regulatory compliance are just a few of the fields in which Birlasoft is an expert.
Bluebee Acquisition By Illumina - In 2021, Illumina, a business that develops and produces genetic sequencing technology, will acquire BlueBee, a cloud-based genomics data processing platform. This acquisition will enable Illumina to expand its data analytic skills and provide its customers with more comprehensive genomic solutions.
Technology Solutions from IQVIA: To improve its digital products for the life science sector, CTS IT acquired the technology solutions division of IQVIA in 2019. The acquisition increased capabilities in fields like AI (Artificial Intelligence), cloud computing, and data analytics.
NMSWorks: To expand its position in the life science industry, CTS IT made the acquisition of NMSWorks, a provider of network management and analytics solutions. The acquisition expanded the company's capabilities in diverse areas such as network optimization and performance monitoring.
The digital marketing strategy used by CTS IT and its recent acquisitions shows that the company is committed to growing its skills in the life science sector. The business successfully reaches and engages with its target audience by utilizing various digital marketing methods. The company has been able to broaden its portfolio of services and solutions owing to recent acquisitions in fields including clinical research, data analytics, and network management.
The company's recent acquisitions and digital marketing approach show how well-suited CTS IT is to the requirement of the life science industry. With the continued growth and use of digital technology in the industry, CTS IT's expertise in areas like cloud computing, AI (Artificial Intelligence), and data analytics will likely become crucial to its clients.
Integration and absorption of inter industry mix is not only in vogue but also serves as a standalone solution to lessen complexity in consummation with the enhanced profit. Particularly, the trend has been hyped in the IT industry mix, where conglomerate mergers between IT and digital marketing industry are visible with a tangible growth. Recent acquisition of Cadient Group by Cognizant Technology Solutions Corp is the key example in lined with the mentioned trend. The acquisition was valued at USD 30 million, about 1.5 times the annual revenue of the Cadient Group and will strengthen Cognizant’s digital solutions capability. The acquired company will be managed by the Healthcare and Life Sciences Practice Group.
Strategically, the acquisition of Cadient Group will provide significant positive impact on Cognizant, both in terms of the broader client spectrum as well as intellectual property assets pertaining to healthcare sector. Presently, Cognizant serves 65 of the top 75 life Sciences companies. With the established experience of over a decade in providing digital solutions to the life science industry, Cadient Group will further strengthen Cognizant’s industry presence in the life Sciences sector. Also, it will boost the already declining healthcare business of Cognizant. To suffice the human resource associated with this acquisition, about 100 digital specialists with domain expertise in multi channel analytics, digital and social marketing and user centered design will join Cognizant. The work force is also expected to be versed in brand strategy and planning. Further, as a part of expansion strategy, Cognizant has earlier acquired IT healthcare service provider, Trizetto Corp for USD 2.7 billion. These two expansions will also provide competitive advantage to Cognizant, especially against its rivals Tata Consultancy Services Ltd and Infosys Ltd.
Accountability for the mentioned successful acquisitions should also be given to Credit Suisse, Centerview Partners, UBS Securities LLC, J.P. Morgan Securities LLC and Goldman Sachs & Co. The first three firms advised Cognizant whereas the latter two suggested Trizetto for the deal.