Cognizant acquires enterprise-focussed consultancy Collaborative Solutions

By Narinder Kapur

  • 07 May 2020
Credit: Reuters

Nasdaq-listed information technology services major Cognizant Technology Solutions Corp has acquired Collaborative Solutions, a privately held consultancy that specialises in Workday enterprise cloud finance and human resources services.

The acquisition will help the firm to add new finance, HR and implementation services to its existing cloud offerings, Cognizant said in a statement. However, it did not disclose the acquisition amount.

Collaborative Solutions, with its rich expertise and leading position in the Workday ecosystem, expands our opportunity in a cloud by establishing a new practice area in this large, fast-growing market,” Greg Hyttenrauch, president for digital systems and technology at Cognizant, said.

Cognizant said it expects the transaction to close in the second quarter of this year, pending requisite approvals.

US-based Collaborative Solutions, which was set up in 2003, says its Workday services platform helps deliver successful client outcomes in the finance and HR spaces. The company says it has over 1,000 employees across countries including the US, Canada, Australia and the UK.

Separately, Collaborative Solutions CEO Carroll Ross said the move would also help the company in expanding its capabilities for its clients.

This is the fourth reported acquisition that Cognizant has made this year in the enterprise services space, as it seeks to ramp up offerings to customers. In March, the IT major acquired Lev, a US-based digital marketing consultancy and Salesforce specialist.

In February, the firm announced that it was planning to acquire the French operations of EI-Technologies, a Paris-based privately held digital technology consulting firm and Salesforce specialist.

It also acquired Code Zero Consulting, a supplier of consulting and implementation services for cloud-based configure-price-quote (CPQ) and billing solutions. Cognizant said the Code Zero acquisition would help it enhance its cloud solutions portfolio and Salesforce CPQ and billing capabilities. It did not reveal the financial details of these two transactions.

It has also made several other acquisitions in the past couple of years. In May 2019, it bought Irish financial software firm Meritsoft for an undisclosed amount to expand its software-as-a-service (SaaS) offerings. It also completed at least five buyouts in 2018, including content firm Mustache and the US-based Bolder Healthcare Solutions.