What: Acquired US-based KBACE Technologies
When: 27 January 2016
Cognizant Technology Solutions on 27 January 2016 acquired the privately-held KBACE Technologies Inc., a US-based global consulting and technology services company specialising in cloud strategy, implementation and integration.
However, the terms of the transaction were not disclosed.
As part of the acquisition, around 400 KBACE consultants and implementation experts across industry and business functions will become part of Cognizant.
The acquisition expands Cognizant’s digital capabilities, as more clients are moving critical business applications to cloud-based IT infrastructures.
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.
About KBACE Technologies
• KBACE Technologies is a global consulting and technology services company dedicated to helping customers maximize their investment in Oracle Software.
• It has one of the largest reference bases of Oracle Cloud Applications customers in the world, and is a leading Oracle Cloud partner.
• Cognizant is an American multinational corporation that provides custom information technology, consulting and business process outsourcing services.
• It was founded on 26 January 1994.
• Over two thirds of its employees are based in India.
• It was the first software services firm listed on the Nasdaq.
• It became a Fortune 500 company in 2011.
• In 2015, the Fortune magazine named it as the world’s fourth most admired IT services company.