(Bloomberg)--Cognizant Technology Solutions Corp.agreed to buy TriZetto Corp. from Apax Partners for $2.7 billion in an all-cash deal to expand in healthcare industry software.
Cognizant has arranged $1 billion in financing to back the purchase, the Teaneck, N.J.-based company said today in a statement. Additional revenue and savings will total about $1.5 billion in the next five years, the company said. Minority shareholders BlueCross BlueShield of Tennessee and Cambia Health Solutions will also sell their stakes in closely held TriZetto, Apax said in a separate statement.
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