Cognizant to acquire Thirdera to enhance cross-industry digital transformation with ServiceNow and create one of the world's largest, most credentialed ServiceNow partners

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Cognizant (NASDAQ: CTSH) has entered into an agreement to acquire Thirdera, an Elite ServiceNow Partner, adding over 940 employees to Cognizant's ServiceNow Business Group. Thirdera is the largest independent global pure-play ServiceNow consultancy, with a leading position in ServiceNow training and certifications, creating one of the largest aggregations of ServiceNow professional certifications globally. The acquisition is expected to further efforts on the path of Cognizant and ServiceNow's strategic partnership to build a $1 billion combined business focused on AI-driven automation.

Acquisition is expected to add more than 940 employees to Cognizant's ServiceNow Business Group, creating one of the largest aggregations of ServiceNow professional certifications globally

TEANECK, N.J., Dec. 13, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) has entered into an agreement to acquire Broomfield, CO-based Thirdera, an Elite ServiceNow Partner specializing in advisory, implementation and optimization solutions related to the ServiceNow platform, with a strong focus on emerging enterprise workflow products. As part of the acquisition, Thirdera's ServiceNow training platform, Thirdera University – one of the world's largest – is expected to play a central role in credentialing resources to fulfill growing demand in the ServiceNow ecosystem.

The addition of Thirdera, which brings an on-and-near-shore global presence for the Cognizant ServiceNow Business Group, is expected to further efforts on the path of Cognizant and ServiceNow's strategic partnership to build a $1 billion combined business focused on AI-driven automation.

Thirdera is the largest independent global pure-play ServiceNow consultancy and has been recognized as the 2023 Worldwide Creator Workflow Partner of the Year and 2023 ServiceNow Americas IT Workflow Partner of the Year, among other accolades.

The combined strengths of Thirdera and the Cognizant ServiceNow Business Group are expected to offer clients one of the most comprehensive experiences in the ServiceNow ecosystem, with robust capabilities in professional services across key ServiceNow workflows and emerging products, including generative AI.

"ServiceNow is leading a market shift toward customer, employee, and creator products," said Ravi Kumar S, Cognizant's CEO. "I believe the combination of Cognizant's deep industry, AI, and platform expertise paired with Thirdera's leading-edge offerings in enterprise transformation will position Cognizant at the forefront of thought leadership and innovation in the ServiceNow ecosystem."

The addition of Thirdera's ServiceNow consultants in North America, Spain, Colombia, the Netherlands, and Australia, among other locations, and Thirdera's leading position in ServiceNow training and certifications, including Certified Master Architects and Certified Technical Architects, will create a combined Cognizant ServiceNow Business Group with more than 2,400 specialists and 14,000 certifications – together creating one of the largest and most highly accredited ServiceNow partners in the world.

"This is a pivotal moment for redefining customer engagement and operational efficiency," said Jason Wojahn, CEO and Co-Founder of Thirdera. "We believe leveraging Cognizant's scale, resources, and cross-industry expertise will help us revolutionize how our clients work in order to unleash productivity and drive innovation. We aim to transform the fabric of our clients' work environments, creating substantial value and offering our employees significant opportunities for professional growth and learning."

"Cognizant's bold move is an example of how our partners are looking to capitalize on the enormous market opportunity with ServiceNow. Their plan to acquire Thirdera, the largest pure-play ServiceNow partner, will turbo-charge their ability to build GenAI industry leading solutions on the ServiceNow platform," said Bill McDermott, chairman and CEO of ServiceNow. "This acquisition puts Cognizant well on their way to building a $1B+ joint business that can accelerate value for our customers."

Cognizant and ServiceNow have expanded their strategic partnership since Cognizant's acquisition of ServiceNow consultancy Linium in 2021, including a June 2023 announcement regarding a strategic partnership to drive AI-driven automation and the path toward building a $1 billion combined business, as well as the launch of an AI-powered service assurance offering for the telecommunications industry.

The acquisition is expected to close in January 2024, subject to satisfaction of closing conditions. Financial details were not disclosed.

About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

About Thirdera
Thirdera is an Elite-level ServiceNow partner, enabling customers to leverage the power of the ServiceNow platform through workflow-enabled services and solutions. Founded in 2021, Thirdera has quickly become an industry leader, evident by its recognition as a Major Contender in the Everest Group ServiceNow Services PEAK Matrix Assessment 2022 and distinction as the 2022 ServiceNow Global Emerging Industry Solutions Partner of the Year. As the largest global pure-play ServiceNow partner, Thirdera offers high-quality industry expertise and world-class innovation to help businesses accelerate growth and productivity via transformation, digitization, and automation. Visit www.thirdera.com for more information. Thirdera is currently a portfolio company of Sunstone Partners.

Forward-Looking Statements

This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to expectations regarding Cognizant's position in the ServiceNow services ecosystem, the anticipated closing of the acquisition of Thirdera, the impact of the acquisition of Thirdera on the business and prospects of the Cognizant ServiceNow Business Group and Cognizant itself and the progress on the path to building a $1 billion combined business for ServiceNow and Cognizant focused on AI-driven automation. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets we compete in, the competitive marketplace for talent and its impact on employee recruitment and retention, legal, reputational, and financial risks resulting from cyberattacks, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

For more information, contact:

U.S. Name Ben Gorelick Email benjamin.gorelick@cognizant.com

Europe / APAC Name Christina Schneider Email christina.schneider@cognizant.com

India Name Rashmi Vasisht Email rashmi.vasisht@cognizant.com

 

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SOURCE Cognizant Technology Solutions

FAQ

What is the name of the company acquiring Thirdera?

Cognizant (NASDAQ: CTSH)

What is Thirdera's specialty in the ServiceNow ecosystem?

Thirdera specializes in advisory, implementation, and optimization solutions related to the ServiceNow platform, with a strong focus on emerging enterprise workflow products.

What is the expected impact of the acquisition on Cognizant's ServiceNow Business Group?

The addition of Thirdera is expected to add over 940 employees to Cognizant's ServiceNow Business Group, creating one of the largest aggregations of ServiceNow professional certifications globally.

What are the accolades received by Thirdera?

Thirdera has been recognized as the 2023 Worldwide Creator Workflow Partner of the Year and 2023 ServiceNow Americas IT Workflow Partner of the Year.

What is the expected impact of the acquisition on Cognizant's ServiceNow Business Group's capabilities?

The acquisition is expected to offer clients one of the most comprehensive experiences in the ServiceNow ecosystem, with robust capabilities in professional services across key ServiceNow workflows and emerging products, including generative AI.

When is the acquisition expected to close?

The acquisition is expected to close in January 2024, subject to satisfaction of closing conditions.