Cognizant Acquires KBACE Technologies
FREMONT, CA: US based Cognizant Technology Solutions the leading IT, consulting and BPO service provider acquired KBACE Technologies, a Global consulting and technology services organization specializing in cloud strategy, implementation, and integration. As part of the acquisition, approximately 400 KBACE consultants and implementation experts across industry and trade functions will become part of Cognizant. While there are visible trends that clients are moving critical applications to cloud-based IT services, Cognizant is looking forward to expand its digital capabilities with this takeover. KBACE is now represented as “KBACE, a Cognizant Company” on the company website. The terms of the transaction were not disclosed, dbta reports.
"The addition of KBACE technologies and its expertise in delivering SaaS digital solutions accelerates Cognizant's cloud strategy and consulting services, provides our clients with access to significant platform expertise and puts us at the forefront of Oracle Cloud partners and technology consultants worldwide," says Allen Shaheen, EVP, Cognizant. Joining hands with Cognizant will provide KBACE with the experience, strategic thinking, and resources to grow cloud practice and reinforce the relationship with Oracle to meet clients.
The combined capabilities will further enable Cognizant to help clients become intuitively digital by using the cloud to derive new insights, unlock new opportunities and lower costs through a subscription-based business model.
Founded in 1994, Cognizant Technology Solutions has a vast majority of nearly two-thirds – of its employees in India. Based in Teaneck, New Jersey, it was the first software services firm to be listed on NASDAQ. To expand into newer geographical locations and business services, cognizant has made some significant acquisitions over the past few years with the acquisition of Trizetto being the largest ever deal. For 2015, it has forecasted a growth by over 21%, reaching $12.41 billion.