itaas was founded by three Indian Americans.
By The American Bazaar Staff
BANGALORE: IT giant Cognizant announced today that it has agreed to terms to acquire itaas, a Georgia-based digital video solutions firm that has been in business for 15 years.
itaas is a company that provides its clients with a vast array of digital video services, for distribution via cable, broadcast, or telecommunications networks. It also allows for companies to distribute their videos to mobile devices, such as smartphones and tablet computers, as well as traditional laptop and desktop computers.
Based in the Atlanta suburb of Duluth, the company has around 200 employees based in North America and India, and liaises with some of the biggest cable channels, broadcasters, and Internet providers in India, the US, and Canada to help its clients reach as wide an audience as possible.
“We are a custom software services company that specializes in developing, integrating and testing digital video and application delivery across platforms including embedded, native, ETV, tru2way, iOS, Android and HTML5 across multiple devices,” the company’s website says.
itaas has four desis in its upper-level management team: the President and CEO is Vibha Rustagi; its Chief Operating Officer is Jaspal Bhasin; Chief Technology Officer is Jatin Desai, and its Vice-President of Worldwide Operations is Arun Prasad. Rustagi, Bhasin, and Desai are the three original founders of the company.
In a press release, Cognizant CEO of IT services Rajeev Mehta voiced excitement at the prospect of itaas joining the Cognizant family.
“This acquisition continues our long-standing strategy of acquiring sharply focused business capabilities that complement our existing offerings,” said Mehta. “The company’s strong client focus and deep business and technology insights into the entire video ecosystem, combined with Cognizant’s global consulting and delivery capabilities, will create greater value for our mutual clients.”
Rustagi echoed those sentiments, saying in a statement, “The success of itaas over the last 15 years has been built on customer satisfaction, deep business and technology expertise, and best-of-breed solutions. The agreement announced today is a major step forward for us. With a shared commitment to client satisfaction and delivery excellence, we can drive future diversification based on our combined strengths.”
Details regarding how much money the deal was worth were not disclosed to the public, nor did either company say when the acquisition would be completed. All that was announced is that an agreement was reached.