Cognizant Continues Acquisition Streak

Cognizant continues to make strategic acquisitions in 2020. Currently ranked 194 on the Fortune 500, U.S.-based Cognizant is one of the world's leading professional services companies. Despite facing many of the same challenges companies have been dealing with due to the COVID-19 pandemic, Cognizant was able to increase its bookings in the first half of the year by 14 percent and reported a second quarter revenue of $4 billion.

It has also been busy closing several deals. Earlier this month, it bought New Signature, an award-winning Microsoft Partner exclusively focused on Microsoft technologies, with an integrated offering across all three of Microsoft's business clouds: Azure, Microsoft 365, and Dynamics 365. The deal expands Cognizant's hyperscale cloud advisory services.

Become a Subscriber

Please purchase a subscription to continue reading this article.

Subscribe Now

In addition, it recently acquired Collaborative Solutions, adding new finance and HR advisory and implementation services to Cognizant's cloud offerings; EI-Technologies, a Paris-based digital technology consulting firm and leading independent Salesforce specialist in France; Code Zero Consulting, a privately-held provider of consulting and implementation services for cloud-based Configure-Price-Quote (CPQ) and billing solutions; and Lev, a privately-held, digital marketing consultancy in the U.S.

Now the company is set to acquire Tin Roof Software, an Atlanta-based company that specializes in digital products that allow companies to improve customer experiences and increase revenue. Tin Roof works across a range of industries, including telecom, media and entertainment, financial services, retail, hospitality, consumer products, travel, logistics, and transportation. The acquisition will expand Cognizant's software product engineering footprint in the U.S.

"Cognizant is investing to compete and win in digital engineering, one of our strategic priorities. Tin Roof's exceptional software product development and agile teams share our philosophy of customer-centricity and will strengthen our network of engineering talent in the U.S. We look forward to welcoming Tin Roof's software product engineering experts to Cognizant,” said Malcolm Frank, President, Digital Business, Cognizant.

While financial details were not disclosed, the transaction is expected to close in the second half of 2020. Once the deal is complete, Tin Roof's experts will join Cognizant Softvision, which has significant a global presence.