Acquisition is expected to add more than 940
employees to Cognizant's ServiceNow Business Group, creating one of
the largest aggregations of ServiceNow professional certifications
globally
TEANECK,
N.J., Dec. 13, 2023 /PRNewswire/ -- Cognizant
(NASDAQ: CTSH) has entered into an agreement to acquire
Broomfield, CO-based Thirdera, an
Elite ServiceNow Partner specializing in advisory, implementation
and optimization solutions related to the ServiceNow platform, with
a strong focus on emerging enterprise workflow products. As part of
the acquisition, Thirdera's ServiceNow training platform, Thirdera
University – one of the world's largest – is expected to play a
central role in credentialing resources to fulfill growing demand
in the ServiceNow ecosystem.
The addition of Thirdera, which brings an on-and-near-shore
global presence for the Cognizant ServiceNow Business Group, is
expected to further efforts on the path of Cognizant and
ServiceNow's strategic partnership to build a $1 billion combined business focused on AI-driven
automation.
Thirdera is the largest independent global pure-play ServiceNow
consultancy and has been recognized as the 2023 Worldwide Creator
Workflow Partner of the Year and 2023 ServiceNow Americas IT
Workflow Partner of the Year, among other accolades.
The combined strengths of Thirdera and the Cognizant ServiceNow
Business Group are expected to offer clients one of the most
comprehensive experiences in the ServiceNow ecosystem, with robust
capabilities in professional services across key ServiceNow
workflows and emerging products, including generative AI.
"ServiceNow is leading a market shift toward customer, employee,
and creator products," said Ravi Kumar S, Cognizant's CEO. "I
believe the combination of Cognizant's deep industry, AI, and
platform expertise paired with Thirdera's leading-edge offerings in
enterprise transformation will position Cognizant at the forefront
of thought leadership and innovation in the ServiceNow
ecosystem."
The addition of Thirdera's ServiceNow consultants in
North America, Spain, Colombia, the
Netherlands, and Australia,
among other locations, and Thirdera's leading position in
ServiceNow training and certifications, including Certified Master
Architects and Certified Technical Architects, will create a
combined Cognizant ServiceNow Business Group with more than 2,400
specialists and 14,000 certifications – together creating one of
the largest and most highly accredited ServiceNow partners in the
world.
"This is a pivotal moment for redefining customer engagement and
operational efficiency," said Jason
Wojahn, CEO and Co-Founder of Thirdera. "We believe
leveraging Cognizant's scale, resources, and cross-industry
expertise will help us revolutionize how our clients work in order
to unleash productivity and drive innovation. We aim to transform
the fabric of our clients' work environments, creating substantial
value and offering our employees significant opportunities for
professional growth and learning."
"Cognizant's bold move is an example of how our partners are
looking to capitalize on the enormous market opportunity with
ServiceNow. Their plan to acquire Thirdera, the largest pure-play
ServiceNow partner, will turbo-charge their ability to build GenAI
industry leading solutions on the ServiceNow platform," said
Bill McDermott, chairman and CEO of
ServiceNow. "This acquisition puts Cognizant well on their way to
building a $1B+ joint business that can accelerate value for our
customers."
Cognizant and ServiceNow have expanded their strategic
partnership since Cognizant's acquisition of ServiceNow consultancy
Linium in 2021, including a June 2023
announcement regarding a strategic partnership to drive AI-driven
automation and the path toward building a $1
billion combined business, as well as the launch of an
AI-powered service assurance offering for the telecommunications
industry.
The acquisition is expected to close in January 2024, subject to satisfaction of closing
conditions. Financial details were not disclosed.
About Cognizant
Cognizant (Nasdaq: CTSH) engineers
modern businesses. We help our clients modernize technology,
reimagine processes and transform experiences so they can stay
ahead in our fast-changing world. Together, we're improving
everyday life. See how at www.cognizant.com or
@cognizant.
About Thirdera
Thirdera is an Elite-level ServiceNow
partner, enabling customers to leverage the power of the ServiceNow
platform through workflow-enabled services and solutions. Founded
in 2021, Thirdera has quickly become an industry leader, evident by
its recognition as a Major Contender in the Everest Group
ServiceNow Services PEAK Matrix Assessment 2022 and distinction as
the 2022 ServiceNow Global Emerging Industry Solutions Partner of
the Year. As the largest global pure-play ServiceNow partner,
Thirdera offers high-quality industry expertise and world-class
innovation to help businesses accelerate growth and productivity
via transformation, digitization, and automation.
Visit www.thirdera.com for more information. Thirdera is
currently a portfolio company of Sunstone Partners.
Forward-Looking Statements
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 Cognizant's position in the ServiceNow
services ecosystem, the anticipated closing of the acquisition of
Thirdera, the impact of the acquisition of Thirdera on the business
and prospects of the Cognizant ServiceNow Business Group and
Cognizant itself and the progress on the path to building a
$1 billion combined business for
ServiceNow and Cognizant focused on AI-driven automation. 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, the competitive and rapidly changing nature of the
markets we compete in, the competitive marketplace for talent and
its impact on employee recruitment and retention, legal,
reputational, and financial risks resulting from cyberattacks,
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.
For more information, contact:
U.S.
Name Ben
Gorelick
Email
benjamin.gorelick@cognizant.com
|
|
Europe /
APAC
Name Christina
Schneider
Email
christina.schneider@cognizant.com
|
|
India
Name Rashmi
Vasisht
Email
rashmi.vasisht@cognizant.com
|
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SOURCE Cognizant Technology Solutions