American IT services company, Cognizant has recently entered into an agreement to acquire Collaborative Solutions, a US-based global consultancy firm. The company specializes in Workday enterprise cloud applications for finance and human resources.
The transaction is expected to be closed in the second quarter of 2020, subject to regulatory clearance and satisfaction of certain closing conditions.
Collaborative Solutions will mark Cognizant’s fourth cloud-related acquisition in 2020.
The financial details were not disclosed. The acquisition of Collaborative Solutions will add new finance and HR advisory and implementation services to Cognizant’s cloud offerings.
Collaborative Solutions is one of the world’s largest Workday consultancies, enabling clients across financial services, healthcare, technology, government, education, and other organizations to transform their operations using enterprise cloud applications.
The company’s clients include Fortune 500 companies and medium-sized businesses. Its services include strategy development, organizational change management, and the deployment and management of finance, HR, planning, and higher education solutions.
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.
Collaborative Solutions will mark Cognizant’s fourth cloud-related acquisition in 2020.
Collaborative Solutions has led more than 800 successful Workday deployments in over 125 countries.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.