Cognizant acquires Zaffera
Nasdaq-listed IT services firm Cognizant has acquired assets of US-based software firm Zaffera, for an undisclosed amount.
Zaffera offers consulting services and software for retailers specializing in SAP solutions. It has developed a portfolio of SAP retail solutions and accelerators in areas such as business analytics, retail planning, point-of-sale (POS) integration, and store operations
“The retail industry is facing intense economic and competitive pressures. The advent of new technologies like social media and mobility have created a more empowered, savvy consumer, and retailers are working harder than ever to attract and retain customers in the face of thin margins,” Francisco D’Souza, President and CEO, Cognizant commented on the acquisition.
He added that this acquisition will strengthen the company’s business to help retailers address these challenges and seize new opportunities created by multi-channel retailing. “Zaffera’s consulting expertise and software solutions will enhance our SAP retail practice and ability to deliver business transformations, “he said.
Cognizant offers services to retailers in North America, Europe, and Asia-Pacific. As per industry estimates, the company derives around 20 percent of its global top line from retail, manufacturing and logistics. The retail business of the company is one of the fastest growing verticals.
In July, Cognizant had acquired the India unit of analytics and business services firm CoreLogic for $ 50 million.
A large part of Cognizant’s operations are based in India. Last month the company reported that its second-quarter profit rose 21 percent, as higher demand for its services boosted revenue.
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