Cognizant has acquired 08 digital firms to grow business in 2020
US-based IT services major Cognizant Technology Solutions is betting on acquisitions as a strategy to build its digital business, as already announced earlier.
According to the media reports, the company has successfully done eight digital-based acquisitions till now this year, and all of these acquisitions are primarily in the cloud-computing space, aiming for fast growth in digital business.
In February, it acquired Code Zero, provider of cloud-based billing solutions, and the French operations of EI-Technologies, a leading European Salesforce platform specialist. In March, it acquired Lev, a digital marketing consultancy that helps businesses modernize their marketing campaigns with data-driven insights.
In May, Cognizant acquired Collaborative Solutions, full-service global finance and HR transformation consultancy that leverages world-class cloud solutions to help deliver successful client outcomes. In June, the Company has acquired Microsoft cloud partner company New Signature, a Leader in Cloud-Native Business Transformation.
In September, Cognizant has acquired Tin Roof Software to expand Digital Engineering Services. Tin Roof offers software design, development, DevOps, and delivery services for clients increasingly dependent on software for a competitive edge. It works across a range of industries, including telecom, media and entertainment, financial services, retail, hospitality, consumer products, travel, logistics, and transportation.
In October, Cognizant completed the acquisition of 10th Magnitude, one of Microsoft’s longest-standing Azure-centric partners, offers advisory and managed services, including data center transformation, application modernization, and data intelligence with AI-driven analytics and insights. The company’s solutions and experts enable efficient, secure cloud transformations for Fortune 500 and other leading brands across industries ranging from healthcare and financial services to consumer goods and aerospace. It was Cognizant’s sixth cloud-related acquisition in 2020.
In November, Cognizant has completed the acquisition of Bright Wolf, a strategic systems integration and technology partner for industrial enterprises seeking digital transformation through adaptable connected systems and services. Bright Wolf serves some of the largest companies in the world in manufacturing, energy production, supply logistics, environmental controls, and other industries.
Cognizant Technology Solutions reported a 30% fall in net profit to $348 million for the third quarter ended September 30, against $497 million in the same period last year. Financial services and products and services saw a decline in revenue, but the healthcare segment grew during the quarter.
Cognizant is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 193 on the Fortune 500 and is consistently listed among the most admired companies in the world.