Cognizant Technology Solutions has made 5 digital-based acquisitions till now this year
US-based IT services major Cognizant Technology Solutions is betting on M&A as a strategy to build its digital business, as already announced earlier in May, 2020.
According to the Mint report, the company has successfully done five digital-based acquisitions till now this year, and all of these acquisitions are primarily in the cloud-computing space, aiming fast growth in digital business.
Brian Humphries, CEO, Cognizant. “I believe we are in the early stages of digital and that COVID-19 has accelerated digital adoption. Digital creates an enormous opportunity for Cognizant, and we intend to capture this. We have complemented organic investments with a targeted M&A strategy focused 100% on digital,”
“Major IT trends such as core modernization, data modernization, and cloud adoption will accelerate. The post-COVID world will create new norms and hasten trends to highly mobile, virtual, and personal world,” he said.
“We will not just be talking about teleworking but rather-remote everything — from a digital workflow, to design, to e-commerce, banking, education, and telemedicine. Against this backdrop, our strategy to win in the digital battlegrounds of AI and analytics, digital engineering, cloud, and IoT becomes more relevant than ever,” he said.
Cognizant has made five digital-based acquisitions so far this year, all of which are primarily in the cloud-computing space.
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.
Announcing the Second Quarter 2020 results company said that Revenue across our business segments was negatively impacted by the COVID-19 pandemic and the ransomware attack, primarily in the month of April. Revenue and bookings improved sequentially through May and June, with increased client demand in areas such as cloud and enterprise application services, IT modernization, and digital engineering.
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.
