Nasdaq-listed IT major Cognizant Technology Solutions Corp has entered into an agreement to acquire US-based Tin Roof Software.
The transaction, expected to complete in the second half of 2020, will likely result in a sixth buy for Cognizant this year. The financial details were not disclosed.
Founded in 2014, Tin Roof has operations in Atlanta and Dallas-Fort Worth. Upon completion of the transaction, the firm’s experts will join Cognizant Softvision.
Cognizant Softvision has a global presence, with studios in Argentina, Australia, Canada, India, Mexico, Romania, and the US.
Atlanta-headquartered Tin Roof specialises in digital products that allow companies to improve customer experience and increase revenue.
It offers solutions for Fortune 500 clients and works across a range of industries including telecom, media and entertainment, financial services, retail, hospitality, consumer products, travel, logistics, and transportation.
Cognizant posted a revenue of $4.22 billion for the quarter ended March 2020, compared with $4.11 billion a year earlier. Net profit fell 17% to $367 million from $441 million during the period.
The company expects margins to remain under 16-17% this year.
Cognizant’s buying spree
Last month, the New Jersey-based IT giant acquired New Signature, a firm that specialises in Microsoft-focused public cloud business transformations.
In May, it acquired Collaborative Solutions, a privately held consultancy that specialises in Workday enterprise cloud finance and human resources services.
Prior to that in March, the IT major bought 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.
In February, it acquired Code Zero Consulting, a supplier of consulting and implementation services for cloud-based configure-price-quote and billing solutions.
