Cognizant To Acquire Thirdera To Enhance Cross-Industry Digital Transformation With ServiceNow And Create One Of The World's Largest, Most Credentialed ServiceNow Partners; Financial Details Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Cognizant (NASDAQ:CTSH) is set to acquire Thirdera, an Elite ServiceNow Partner, to enhance its digital transformation capabilities with ServiceNow and create one of the world's largest ServiceNow partners. The acquisition will add over 940 employees and a significant number of ServiceNow certifications to Cognizant's ServiceNow Business Group. Thirdera has a global presence and has been recognized with several ServiceNow awards. The deal is expected to close in January 2024, with financial details not disclosed. Cognizant and ServiceNow (NYSE:NOW) have been expanding their strategic partnership, aiming to build a $1 billion combined business focused on AI-driven automation.
December 13, 2023 | 4:02 pm
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Cognizant's acquisition of Thirdera is expected to significantly enhance its ServiceNow capabilities, adding over 940 employees and a wealth of certifications. This strategic move aims to create a $1 billion business in AI-driven automation with ServiceNow.
The acquisition of Thirdera is likely to be viewed positively by investors as it strengthens Cognizant's position in the ServiceNow ecosystem and aligns with its growth strategy in AI-driven automation. The addition of a large number of skilled employees and certifications could provide a competitive edge and drive future revenue growth.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
ServiceNow's strategic partnership with Cognizant is strengthened by the latter's acquisition of Thirdera, which is expected to contribute to building a $1 billion combined business focused on AI-driven automation.
ServiceNow is likely to benefit from Cognizant's acquisition of Thirdera as it reinforces the strategic partnership between the two companies and supports the goal of building a significant business in AI-driven automation. This could lead to increased adoption of ServiceNow's platform and potentially higher revenues.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70