Cognizant Acquires KBACE Technologies
Financial Information
Transaction Facts
- IT consulting giant Cognizant Technology Solutions (Nasdaq:CTSH) announced yesterday that it acquired cloud services firm KBACE Technologies for an undisclosed amount.
- In the deal, Cognizant is acquiring approximately 400 KBACE consultants and other implementation specialists, adding to its digital business unit.
- A Cognizant spokesperson described the transaction as a "traditional tuck-in acquisition" and stated that it would "not have a material impact on Cognizant revenue or financials."
Leveraging Acquisitions to Secure Growth
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Leader in a Hot Space: KBACE is a leader in helping clients transition to the Oracle cloud - a segment with much traction. In the statement announcing the transaction, Cognizant executive vice president Allen Shaheen cited its "accelerating" effect on Cognizant's cloud strategy, putting it "at the forefront of Oracle Cloud Partners."
- Recognized for Performance: KBACE is one of the largest independent Oracle Services companies, and last year was awarded Oracle Specialized Partner of the Year - North America in Regional System Integrator HCM Applications - its third consecutive award.
- A History of Inorganic Growth: Cognizant has made several acquisitions designed to bolster or strengthen its services capabilities, especially in the digital space. Recent examples include video solutions firm itaas, Inc., digital marketing agency Cadient Group, and digital solutions firm Odecee. It has also moved to secure a foothold in other growing markets, as with its Sept. 2014 acquisition of healthcare services provider TriZetto (one of the largest global technology services deals at $2.7 billion).
For more information about this transaction
, click here to read the press release.
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