How much is this month worth of determining the acquisition value? As, the trend of Merger and Acquisition keeps on track, Cognizant announces an acquisition deal with Idea Couture, a privately-held firm that offers a broad range of digital innovation, strategy, design and technology services.
Under undisclosed transaction details, the acquisition is reported as a revitalization of Cognizant’s strategy into the digital technologies – including artificial intelligence, mobility, business analytics, cloud services, and the Internet of Things.
To tap the digital wave, Cognizant Digital Works brings together human insight, strategy, design, technology, and industry expertise to create innovative solutions at enterprise scale. Idea Couture, which will become part of Cognizant Digital Works, specializes in designing and prototyping products, services and business models that take advantage of the latest technologies.
“Idea Couture has a track record of success in managed innovation – including rapidly envisioning, designing and prototyping digital solutions – to help companies create connected products, engage customers, and deploy new business models for growth and competitive advantage,” said Gajen Kandiah, Executive Vice President, Cognizant Digital Works. “The Idea Couture team’s capabilities accelerate our ability to help clients transform their customer experiences, core business processes, partner relationships, and supporting systems.”
“Building on our recently announced partnership with ReD Associates, this acquisition further advances our strategy to bring together world-class capabilities in behavioral insight, strategy, design, and technology to deliver innovative and impactful solutions for our clients in banking, insurance, life sciences, and our other key industries,” added Kandiah.
“We are excited to build on our vision of a new kind of company that can conceive and build new products and experiences and bring transformation to our clients,” said Idris Mootee, CEO at Idea Couture. “As part of Cognizant Digital Works, we will be able to do even more exciting things with design and technology. By connecting with Cognizant’s proven technical abilities, global scale, and domain expertise, we can help our clients realize the value of their innovation efforts.”