Like many other IT companies Cognizant too was in the news for all the wrong reasons- layoffs. Amid news about thousands to be laid off in the ongoing year, if we reflect per se on the year ended March 2017, the company claims it to be a very significant year. Cognizant had a total year-end head count of 2,61,200 employees globally. During the year, Cognizant’s strategic accounts totaled 336. Strategic accounts are those which the company consider being strategic and have the potential to ramp up to at least $5 million to more than $50 million in annual revenue. As we look at client wins, during the year, Cognizant signed up large digital transformation deals with marque client names such as Standard Life, Key Bank, Santa Clara Family Health Plan, Kony, Kern Health Systems, among others. During last year, Cognizant announced an exclusive strategic partnership and the acquisition of an ownership interest of 49% in ReD Associates, a leading strategic consulting firm specializing in the use of human sciences to help business leaders better understand customer behavior.
In terms of acquisitions, Cognizant acquired Idea Couture, a privately-held firm that offers a broad range of digital innovation, strategy, design and technology services. Based in Toronto, and with offices in the U.S., Europe, and Latin America, the firm has more than 170 social scientists, strategists, anthropologists, user experience experts, designers, and connected product developers. The company entered into a definitive agreement to acquire privately-held Mirabeau BV, a digital marketing and customer experience agency specializing in industries such as travel and hospitality, financial services, retail, and B2B sectors. The acquisition will expand Cognizant’s digital business capabilities in the Netherlands and across Europe. With the close of the acquisition, approximately 260 specialists from Mirabeau will become a part of Cognizant’s Digital Business practice.
Another acquisition the company did was Adaptra, a Sydney-based consulting, business transformation and IT services provider. Adaptra works with 5 of the top 10 insurers in Australia and New Zealand, helping them define their target business and operating models and providing platform advisory and implementation services. As part of the acquisition, approximately 100 professionals will join Cognizant.
Cognizant also acquired Brilliant Service Co. Ltd., an intelligent products and solutions company headquartered in Osaka, Japan, specializing in digital strategy, product design and engineering, IoT. Meanhwile in last year, Cognizant expanded its presence in Malaysia by opening a new delivery centre in Cyberjaya, Kuala Lumpur. The new center will enhance Cognizant’s existing operations in Malaysia. Cognizant also opened its Digital Business Collaboratory in Melbourne, Australia. The Collaboratory provides a dedicated space, technology, managed innovation process, and a team of experts so clients can work with Cognizant and partners to design, prototype, and build innovative solutions for the digital economy. The Collaboratory in Melbourne will bring the Internet of Things (IoT) to life and apply artificial intelligence (AI) to deliver brand new experiences for people.
—FRANCISCO D’ SOUZA CEO