Cognizant to acquire SaaSfocus

Nasdaq-listed software services company Cognizant said on Thursday it had agreed to buy SaaSfocus, a privately-held consulting firm focussed on digital technologies, for an undisclosed amount to boost its digital business in the Asia Pacific region.

SaaSFocus, which is focused on the Salesforce platform, is one of the largest Salesforce partners in the Asia Pacific region with clients across Australia and India. The acquisition is expected to help Cognizant’s digital transformation services and Salesforce cloud capabilities in the growing APAC markets. SaaSFocus has over 350 consultants. Financial details of the deal were not disclosed. The transaction is expected to close during the fourth quarter of 2018.

“This acquisition of a respected and successful Salesforce specialist underlines our commitment to helping clients in Australia and India digitally transform their businesses and reshape the way they interact with their customers,” said Jayajyoti Sengupta, head of APAC, Cognizant.

New Jersey-headquartered Cognizant, which has a majority of its workforce based in India, recorded a revenue of $4.01 billion during the April-June period, up 9.2% from the year-ago period. However, net profit declined 3% to $456 million in the June quarter from $470 million in the year-ago period. Cognizant follows a calendar year.