Odecee, Now a Cognizant Firm Post Acquisition
In yet another acquisition, Cognizant on Wednesday said that it will acquire Odecee, a provider of digital solutions to enterprises in Australia and New Zealand region. The terms of the transaction were not disclosed. Significantly, this is the second acquisition made by Cognizant in the digital space, after Cognizant last month bought Cadient Group, a digital marketing agency.
Founded in 2007, Odecee delivers enterprise mobility, web and cloud solutions to 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 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," Cognizant's press statement said. 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," the statement added.
John Burgin, Regional Head for Australia and New Zealand, Cognizant said, "This strategic acquisition underscores our commitment to the local market and our focus on strengthening our digital capabilities." "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," Burgin added.
Commenting on the acquisition, Con Mouzouris, Co-founder and Managing Director of Odecee said, "This is a strategic step forward for us and opens up a significant growth opportunity for us across newer technologies and industries." Cognizant, like its rivals in the IT space, is aggressively beefing up its presence in the digital and social, mobility, analytics and cloud space or Smac, as customers across industries are asking IT vendors to keep costs down and at the same time bring more efficiency. This has led to most companies increase their headcount in these areas or buy some of the smaller firms focused in these areas. Cognizant
generates northwards of $500 million business from the Smac business. Other IT firms, including TCS and Infosys does not for now given an individual break-up of business generated from some of these newer areas.