-- Strategic Acquisition to Expand Cognizant's Digital Transformation Portfolio and Capabilities to Help Clients Create Digital Enterprises
MELBOURNE, Australia, Nov. 12, 2014 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced the acquisition of Odecee, a leading provider of digital solutions to enterprises in the Australia and New Zealand region. The terms of the transaction were not disclosed.
Founded in 2007, Odecee delivers leading-edge enterprise mobility, web and cloud solutions to marquee clients in the financial services, insurance, healthcare, logistics, and communications industries. This acquisition further strengthens Cognizant's digital business transformation expertise and expands its portfolio of tools and services to help clients create digital enterprises that capitalize on new business models, drive innovative products and services, enhance workforce productivity, and improve customer experience.
As part of this acquisition, approximately 150 digital specialists with expertise across enterprise mobile, web and cloud services will join Cognizant. This acquisition also brings to Cognizant intellectual property such as Velocedee, a platform that helps centralize highly secure mobile applications and enables rapid implementation of core business processes across a wide range of mobile devices.
"This strategic acquisition underscores our commitment to the local market and our focus on strengthening our digital capabilities," said John Burgin, Regional Head for Australia and New Zealand, Cognizant. "Rapid consumerization of technology is driving business reinvention across industries and blurring the distinction between the physical and the digital worlds. As businesses become increasingly technology-intensive and physical processes get instrumented and digitized, our strong portfolio of services, coupled with our aggressive investments in SMAC (social, mobile, analytics and cloud) technologies, will help clients drive meaningful change and build ever more connected, collaborative, and real-time businesses. We welcome Odecee's talented professionals to Cognizant and look forward to leveraging our combined strengths to empower clients to address the needs of the digital era."
"This is a strategic step forward for us and opens up a significant growth opportunity for us across newer technologies and industries," said Con Mouzouris, Co-founder and Managing Director of Odecee. "Becoming a part of Cognizant will enable us to expand our capabilities, services and exposure, while ensuring the long-term vitality and sustainability of the business. The remarkable success of Odecee, like Cognizant, is built on the foundation of customer satisfaction, deep expertise, exceptional talent, and the ability to deliver best-of-breed solutions. Expansion is critical for us to continue our strong growth, develop better solutions for our current and future customers, and provide greater opportunities for our employees. Our clients will now benefit from an expanded pool of specialized skills, global experience, and industry-acclaimed best practices."
Odecee is a specialist in enterprise mobile, web and cloud services, including application development, performance management/engineering, DevOps and technology consulting. Odecee's team of approximately 150 people have the expertise and experience to deliver proven solutions with speed and certainty; at the same time, the company invests heavily in generating and developing creative new ideas that help customers identify and solve problems, realize business objectives and get an advantage over competitors. Since its beginning in 2007, Odecee has experienced substantial growth and received significant recognition, with over 200 projects successfully delivered, and a slew of industry acknowledgements, including the 2014 Australia Design Awards and BRW's Most Innovative Companies list.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 75 development and delivery centers worldwide and approximately 199,700 employees as of September 30, 2014, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: 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. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-Q 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.