Nasdaq-listed IT services major Cognizant Technology Solutions Corp has acquired Code Zero Consulting, a supplier of consulting and implementation services for cloud-based configure-price-quote (CPQ) and billing solutions.
The acquisition will help the IT major enhance its cloud solutions portfolio and Salesforce CPQ and billing capabilities, according to a press statement.
The firm claims that Code Zero’s expertise and geographical presence will expand the IT giant’s footprint in the category.
Financial details of the transaction were not disclosed.
Brian Humphries, CEO at Cognizant, said the acquisition of Code Zero enriches the firm’s cloud offerings, brings deep domain expertise to clients and further strengthens the strategic relationship with Salesforce.com.
In October 2018, Cognizant had acquired ATG, a consultancy focused on quote-to-cash (QTC) business processes and technologies.
“Combining our respective expertise in advising on, implementing and managing CPQ and billing business processes and technologies contributes to a true global powerhouse of Salesforce platform expertise,” said Gene Nix, co-founder at Code Zero.
US-based Code Zero Consulting, launched in 2016, offers QTC solutions and enables clients to rapidly configure, price and quote complex deals, automate the customer lifecycle and accelerate revenue. The firm has centres in Atlanta and Charlotte N.C.
The deal marks Cognizant’s first acquisition of 2020 after sealing several buyout transactions in the past two years.
In May 2019, it bought Irish financial software firm Meritsoft for an undisclosed amount to expand its software-as-a-service (SaaS) offerings.
It had completed at least five buyouts in 2018 — content firm Mustache, digital transformation consultant SaaSfocus, revenue management consulting firm Advanced Technology Group (ATG), data analytics company Hedera Consulting and US-based Bolder Healthcare Solutions.
Cognizant is based in New Jersey and has extensive development operations in India, chiefly in Chennai.