In a bid to strengthen its Salesforce practice, Nasdaq-listed Cognizant Technology Solutions Corp. has made two strategic acquisitions this week, ahead of its fourth quarter earnings tomorrow.
The IT services major on Wednesday said it has entered into “exclusive negotiations” to acquire the French operations of EI-Technologies, a Paris-based, privately-held digital technology consulting firm. Through this acquisition, Cognizant would add approximately 345 employees in France.
The proposed acquisition would complement Cognizant’s global Salesforce practice and expanding client resources in Europe. The planned acquisition requires advance consultation with the relevant works councils and would be subject to customary closing conditions, the company said. Financial terms of the proposed transaction were not disclosed.
“We are determined to help our clients become fully digital, data-enabled, customer-centric businesses. Cloud has changed the way IT is delivered across infrastructure, applications and platforms, and is one of our strategic focus areas,” said Brian Humphries, CEO, Cognizant. “EI-Technologies, based in France, would not only support our effort to further scale our international business but also add Salesforce expertise and capabilities to our cloud management portfolio.”
A day earlier, on Tuesday, Cognizant said it acquired Code Zero Consulting, a privately-held provider of consulting and implementation services for cloud-based configure-price-quote (CPQ) and billing solutions.
“The acquisition further strengthens Cognizant’s cloud solutions portfolio and Salesforce CPQ and billing capabilities,” Cognizant said in a statement. Financial details of the deal were not disclosed.
Founded in 2016, Atlanta-based Code Zero specializes in helping companies digitally transform by providing strategy, implementation and migration capabilities to evolve legacy systems to cloud-based CPQ and billing systems. Code Zero is a Salesforce Platinum Partner and includes leading global enterprises among its clients across industries, particularly manufacturing and financial services, Cognizant said.
Code Zero’s expertise, geographic presence and client portfolio builds on capabilities Cognizant expanded with its October 2018 acquisition of ATG, a consultancy focused on quote-to-cash (QTC) business processes and technologies. Code Zero’s team, based primarily in Atlanta in Georgia and Charlotte in North Carolina, will complement and extend ATG’s footprint.
“The acquisition of Code Zero enriches our cloud offerings, brings deep domain expertise to our clients and further strengthens our strategic relationship with Salesforce.com,” said Humphries.
