Minot's ING facility, which employs more 800 people has been bought out by a New Jersey based company called Cognizant.
Under the agreement between the two companies, Cognizant plans to hire the ING employees in Minot and utilize the facility to head its own Center of Excellence for Insurance and Financial Services.
The facility purchase in Minot is part of a larger 330 million dollar deal.
According to an official with the company, most ING employees will be transferred under the Cognizant company name August 16th, although some will remain under the ING umbrella.
Cognizant financial services currently services financial institutions and insurers in North America, Europe, and Asia-Pacific.