Cognizant will acquire the professional services and application management practices of OneSource Virtual, a Workday partner based in Dallas, Texas. Financial terms of the deal were not disclosed.
This is technology M&A deal number 937 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Cognizant is based in Teaneck, New Jersey. The company has 319,318 employees listed on LinkedIn. Cognizant’s areas of expertise include interactive, intelligent process automation, digital engineering, industry & platform solutions, internet of things, artificial intelligence, cloud, data, healthcare, banking, finance, fintech, manufacturing, retail, technology and Salesforce.
OneSource Virtual, founded in 2008, is based in Dallas, Texas. The company has 998 employees listed on LinkedIn. OneSource Virtual’s areas of expertise include human resource outsourcing, human capital management, cloud sourcing, BPO, Workday user adoption, Workday implementation, change management, application management services, Workday services and BPaaS.
The acquisition will complement Cognizant's existing Workday finance and HR advisory implementation services and expand the firm's capabilities in consulting, deployment and post-deployment support across North America and the United Kingdom, the companies said.
Cognizant will add nearly 400 new employees to its Collaborative Solutions team across the United States, Canada and the United Kingdom. Cognizant acquired Collaborative Solutions, one of the oldest Workday Services Partners, in 2020.
Cognizant Acquires OneSource Virtual: Executive Perspectives
Rob Vatter, executive vice president of Cognizant's Enterprise Platform Services, commented on the news:
"Adoption and migration to the cloud to manage workflows is only accelerating, and the Workday platform ecosystem continues to be embraced as a critical tool to provide finance, HR, and other functions greater resiliency and agility. Acquiring the professional services and application management practices from OneSource Virtual enables Cognizant to expand our client offerings and provide end-to-end support in the business transformation journey. We are pleased to be welcoming the talented professionals from OneSource Virtual who will join Cognizant in growing and expanding our Workday capabilities globally."
Trey Campbell, CEO, OneSource Virtual, added:
"We believe that our shared value of customer centricity makes Cognizant the ideal home for our professional services and application management services businesses while we concentrate on the Business Process as a Service (BPaaS) division going forward. We also believe customers will appreciate the way this sharpens the focus of the professional services, application management, and BPaaS teams and enables them to operate independently to speed up investment in new products and geographical expansion. In the end, what we are all about is providing growth and innovation for our customers, and we are confident that this will enhance our ability to do that more effectively."
Workday Ecosystem M&A Activity
M&A activity within the Workday partner ecosystem has remained steady. Cognizant has also remained active in the M&A market, buying IT consulting and MSP businesses worldwide.
