This is M&A deal number 201 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Collaborative’s solutions include strategy development, organizational change management, and the deployment and management of finance, HR, planning, and higher education solutions. The company works with clients across financial services, healthcare, technology, government, education, and more.
Founded in 2003, Collaborative Solutions is headquartered near Washington, D.C., and has more than 1,000 employees worldwide. In addition to the U.S., the company has operations in Australia, Canada, and the United Kingdom.
Collaborative Solutions Acquisition: Executive Perspectives
In a prepared statement, Greg Hyttenrauch, president, Digital Systems and Technology, Cognizant, said:
"Running core applications in the cloud has never been more important. Workday is a critical enterprise cloud suite that gives finance, HR and other functions greater resiliency and agility. Collaborative Solutions, with its rich expertise and leading position in the Workday ecosystem, expands our opportunity in cloud by establishing a new practice area in this large, fast-growing market. Our combined strengths in cloud strategy and enablement will differentiate our offering, positioning us to provide full support to clients throughout their digital transformation journey. We look forward to welcoming Collaborative Solutions' talented team to Cognizant."
Carroll Ross, CEO, Collaborative Solutions, added:
"As one of Workday's longest-tenured services partners, we have expertise, depth, and proficiency in driving true finance and HR transformation. Together with Cognizant, we will provide even greater scope and scale, helping extend our capabilities for clients to accelerate innovation in their digital agendas and optimize their Workday investments. We look forward to joining Cognizant, a Fortune 200 company that shares our passion for both client and employee success."
Cognizant’s Acquisition Plays
This deal marks Cognizant’s fourth since January 2020, but the company has been snapping up firms for some time. Several recent deals have focused on the Salesforce ecosystem. Among the deals ChannelE2E has tracked:
- Lev, a privately-held digital marketing consultancy firm and Salesforce partner.
- EI-Technologies a France-based Salesforce specialist and privately-held digital technology consulting firm.
- Code Zero Consulting, another Salesforce-centric consulting firm.
- Contino, an Amazon Web Services cloud consulting firm that also works closely with Microsoft Azure and Google Cloud Platform.
- Zenith Technologies, a privately-held life sciences company from Cork, Ireland.
Workday Consulting Acquisitions
Workday is an increasingly popular SaaS platform for HR, finance, and other types of applications.
This marks the third Workday partner acquisition we’ve seen so far in 2020. Previous deals included: