Cognizant to acquire French digital technology firm, reshuffles board
Photo Credit: Reuters

Nasdaq-listed information technology services major Cognizant Technology Solutions Corp is planning to acquire the French operations of EI-Technologies, a Paris-based privately-held digital technology consulting firm and Salesforce specialist.

The acquisition will help the IT major enhance its global Salesforce practice and expand client resources in Europe, Cognizant said in a statement.

It did not disclose the financial details of the proposed transaction.

Brian Humphries, CEO at Cognizant, said the firm is determined to help clients become fully digital, data-enabled, customer-centric businesses. Cloud has changed the way IT is delivered across infrastructure, applications and platforms, and is one of our strategic focus areas, he said.

The move will also see Cognizant adding more than 340 employees in France.

EI-Technologies founder and CEO Béchara Raad said the proposed acquisition would help the firm address a wider range of client needs, including automation and artificial intelligence.

EI-Technologies was set up in 2008 and says its clients include companies listed on the French stock market’s CAC 40 index. Apart from its Salesforce expertise, the company also provides services in Microsoft collaboration platform solutions and CIO advisory services.

The acquisition, which is subject to closing conditions, will mark Cognizant’s second this month. On Tuesday, the firm announced that it had acquired Code Zero Consulting, a supplier of consulting and implementation services for cloud-based configure-price-quote (CPQ) and billing solutions.

Cognizant said the acquisition would help it enhance its cloud solutions portfolio and Salesforce CPQ and billing capabilities, according to a press statement. It did not disclose the financial details of that transaction either.

It has also made several other acquisitions in the past couple of 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 also completed at least five buyouts in 2018, including content firm Mustache and the US-based Bolder Healthcare Solutions.

Changes to the board

Separately, Cognizant announced that former Britannia Industries managing director and CEO Vinita Bali would join its board of directors. At the same time, the company said the current board member Francisco D’Souza will step down from his position.

“We believe Vinita's extensive and successful experience at large companies, both India-based and multinational, will make a significant contribution to Cognizant,” board chairman Michael Patsalos-Fox said.

Bali, whose appointment will become effective later this month, is also a board member at agribusiness company Bunge Ltd and global portfolio medical technology firm Smith & Nephew Plc. She is also on the board of the India-listed Syngene International Ltd and analytics company CRISIL Ltd.

Apart from Britannia, Bali has also in senior management, corporate strategy, and marketing roles for companies such as The Coca-Cola Company and Cadbury Schweppes Plc. She is an alumnus of Michigan State University and the Lady Shri Ram College for Women.

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