Cognizant to acquire OneSource Virtual
This acquisition will complement Cognizant's existing finance and HR advisory implementation services with Workday, expanding capabilities in consulting, deployment, and post-deployment support.
Published: 02nd November 2022 02:28 PM | Last Updated: 02nd November 2022 02:28 PM | A+A A-
BENGALURU: Nasdaq-listed IT major Cognizant will acquire the professional services and application management practices of OneSource Virtual, a Workday partner based in Texas.
This acquisition will complement Cognizant's existing finance and HR advisory implementation services with Workday, expanding capabilities in consulting, deployment, and post-deployment support across North America and the UK, the company said in a statement.
"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," said Rob Vatter, Executive VP of Cognizant's Enterprise Platform Services.
Cognizant will onboard 400 new employees upon the closing of the acquisition. Located throughout the US, Canada, and the UK, these employees will join Cognizant as part of its Collaborative Solutions team. Acquired by Cognizant in 2020, Collaborative Solutions is one of the longest-tenured Workday Services Partners.
The IT company will announce its third-quarter earnings results on Thursday. Recently, the company announced that former Infosys President Ravi Kumar will be joining as the president of Cognizant Americas on January 16, 2023.