Acquisition Will Enhance Cognizant's Digital Portfolio and Market Presence in Australia and New Zealand
SYDNEY, Jan. 11, 2021 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced it has entered into an agreement to acquire Servian, a Sydney, Australia-based, privately-held enterprise transformation consultancy specializing in data analytics, artificial intelligence, digital services, experience design, and cloud.
Servian is Cognizant's 10th digital-focused acquisition announced since January 2020, highlighting Cognizant's strategy to accelerate capabilities and growth in priority areas of data and artificial intelligence, digital engineering, cloud, and Internet of Things across the globe.
The acquisition of Servian significantly expands Cognizant's integrated, end-to-end digital transformation capabilities in Australia and New Zealand (ANZ) to help clients move to the cloud, build digital products and services, unlock value from data, modernize enterprise applications, and achieve operational excellence.
"Enterprises in Australia and New Zealand are at an inflection point in their digital adoption," said Jane Livesey, CEO, Cognizant Australia and New Zealand. "Cognizant's extensive digital expertise combined with Servian's strengths as the premier technology partner in the region will open up the full power of digital transformation for our Australasian clients. We look forward to welcoming Servian's talented digital-native professionals to Cognizant."
"Enabling clients to leverage their data assets for accelerating business transformation and driving competitive advantage is at the heart of our success," said Tony Nicol, Founder and CEO, Servian. "We share Cognizant's passion for innovation powered by digital technologies. With Cognizant's deep industry expertise and global scale, we will be able to apply our strengths in strategic advisory, engineering delivery, and managed services across an even broader spectrum of challenges and opportunities presented by the digital economy."
Cognizant's more than 1,200 professionals in Australia serve more than 110 clients, including top Australian banks, insurers, retailers, and communications companies. In the last few years, the company has consistently strengthened its in-country cloud, product engineering, platform, Salesforce, and Workday capabilities to expand its digital business in Australia.
Founded in 2008, Servian has worked with more than 190 major companies in ANZ in the banking, telecommunications, insurance, retail, and government sectors, including eight of ANZ's 15 largest companies. Upon the close of the acquisition, Servian's more than 500 technology and consulting professionals, based primarily in Australia and New Zealand, will join Cognizant, doubling the size of Cognizant's cloud and data team in ANZ.
Servian brings expertise in all major digital technologies and has partnerships with the largest names in the industry, including Google, Microsoft, Amazon Web Services, Salesforce, Snowflake, Oracle, HashiCorp, Talend, Informatica, and Red Hat. The company was named Google's Service Partner of the Year in 2019, Snowflake's Let It Snow and Snow Mate Australia in 2019, HashiCorp's APJ Services Partner of the Year in 2020, and Talend's APAC Partner of the Year Value-Added Reseller in 2020.
The transaction is expected to close in the first quarter of 2021, subject to regulatory clearance and other closing conditions. Financial details were not disclosed.
Servian is a leading data consultancy in the Australasian region, whose mission is to enable customers to use their data to build competitive advantage. Servian provides services across data and analytics, cloud infrastructure, DevOps, UI/UX, customer engagement, cybersecurity, artificial intelligence, and IoT. Servian also provides advisory services to help organizations define and execute on their IT strategy, as well as managed services to manage and run platforms on behalf of its customers. Servian is a technology-agnostic, consultant-led organization that has a strong continuous learning culture. To learn more about Servian, visit https://www.servian.com.
Cognizant (Nasdaq-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 194 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to expectations regarding the anticipated closing of the acquisition of Servian and the impact of the acquisition of Servian on the business and prospects of Cognizant. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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