Cognizant has on Tuesday entered into an agreement to acquire Collaborative Solutions, a global consultancy specializing in Workday enterprise cloud applications for finance and human resources. Collaborative Solutions will mark Cognizant’s fourth cloud-related acquisition in 2020.
Founded in 2003, Collaborative Solutions is headquartered near Washington, D.C., and has more than 1,000 employees worldwide. In addition to the U.S., the company has operations in Australia, Canada, and the United Kingdom.
The company’s clients include Fortune 500 companies and medium-sized businesses across financial services, healthcare, and technology, as well as education and government institutions. Collaborative Solutions has led more than 800 successful Workday deployments in over 125 countries.
Collaborative Solutions’ services include strategy development, organizational change management, and the deployment and management of finance, HR, planning, and higher education solutions, as per a statement from Cognizant.
In March, it had signed a deal to acquire digital marketing consultancy Lev; in February, it bought over the French operations of Salesforce-specialised digital consultancy EI-Technologies; and bought Code Zero Consulting the same month.
Cognizant is an American multinational corporation that provides IT services, including digital, technology, consulting, and operations services. It is headquartered in Teaneck, New Jersey, United States. Cognizant is part of the NASDAQ-100 and trades under CTSH. It was founded as an in-house technology unit of Dun & Bradstreet in 1994 and started serving external clients in 1996.
Cognizant had a period of fast growth during the 2000s, becoming a Fortune 500 company in 2011. The company has been involved in a number of controversies in India, Ireland, and the United States.
Cognizant provides information technology, information security, consulting, ITO, and BPO services. These include business & technology consulting, systems integration, application development & maintenance, IT infrastructure services, Artificial Intelligence, Digital Engineering, analytics, business intelligence, data warehousing, customer relationship management, supply chain management, engineering & manufacturing solutions, enterprise resource planning, research, and development outsourcing, and testing solutions.
Cognizant has three key areas of expertise which make up their business — Digital Business, Digital Operations, and Digital Systems & Technology.
Like many other IT services firms, Cognizant follows a global delivery model based on offshore software R&D and offshore outsourcing. The company has a number of offshore development centers outside the United States and near-shore centers in the U.S., Europe, and South America.