Cognizant bets M&A’s to build the digital business
Cognizant’s revenue grew over 14 percent on a
year-on-year basis for the quarter of June. It represents around 42 percent of
the total revenue of the firm. Cognizant Technology Solution Corporation is
continuously betting mergers and acquisitions to build up the digital business.
In this article, we will learn more about the
company’s revenue and acquisitions.
Acquisitions made by the company
A few months earlier the company acquired Code
Zero, which is a provider of cloud-based solutions of billing. It also acquired
Lev, which is the provider of digital marketing consultation. A month later it
acquired Collaborative solutions. This is expected to provide HR and finance
advisory to the company. In June, the company entered into an agreement to
acquire New Signature. It is an independent Microsoft public cloud
transformation specialist.
Revenue of the company
The digital bookings of Cognizant grew by 50
percent. Many believe that acquisitions are a great way to achieve growth in
the digital business. The company’s digital revenue grew in the June quarter.
COVID-19 has increased the demand for digital
business. The company has started making strategies to become 100 percent
digital. It has already made five digital-based acquisitions this year. These
all are related to cloud computing.
The company has started to build its own
software platforms to push towards digitalization. According to the CEO of the
company, digitalization has created a lot of opportunities for the
organization.
Cognizant recognized that customers want to
take advantage of digital transformation. The CEO is planning to be a major
part of the clients’ digital transformations. Thus, it is clear that the
company is ready to face all the changing trends in the future. Cognizant is
actively responding with a shift towards a digital engineering strategy to meet
the new requirements of customers.
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