Nasdaq-listed IT Company Cognizant announces a new 10-year services agreement valued at about $1 billion with CoreLogic, a global property information, analytics and data-enabled solutions provider.

According to the company, the deal deepens the scope of the current collaboration with a focus on delivering strong solutions and customer experience through digital transformation and operational excellence.

Cognizant and CoreLogic extend the decade-long relationship with $1 billion, ten-year services agreement, as per reports.

Since 2011, Cognizant has been a service delivery partner, offering capabilities in application development and support, analytical modeling and domain-centric business process services to CoreLogic and its customers, primarily in the US mortgage and real estate markets.

Cognizant is an American multinational information technology services and consulting company. It is headquartered in Teaneck, New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH. It was founded as an in-house technology unit of Dun & Bradstreet in 1994, and started serving external clients in 1996.

Cognizant is organized into several verticals and horizontal units. The vertical units focus on specific industries such as Banking & Financial Services, Insurance, Healthcare, Manufacturing and Retail. The horizontals focus on specific technologies or process areas such as Analytics, mobile computing, BPO and Testing.

Both horizontal and vertical units have business consultants, who together form the organization-wide Cognizant Consulting team. Cognizant is among the largest recruiters of MBAs in the industry; they are involved in business development and business analysis for IT services projects.

Surya Gummadi, President of the Americas at Cognizant says, “Real estate, mortgage lifecycle, and insurance transactions depend on accurate, timely data and analytics. We are committed to helping CoreLogic provide this critical intelligence to clients while enhancing their user experience and further streamlining operating efficiency.”