Business

Cognizant to Acquire Consultancy Collaborative Solutions (HITS)

Professional services firm Cognizant is set to acquire Reston, Va.-based Collaborative Solutions, a consultancy that specializes in enterprise cloud applications for finance and human resource.

The acquisition is set to close in the second quarter. Terms of the deal were not disclosed.

The acquisition will give Cognizant’s cloud offerings new finance and HR advisory and implementation services, with Collaborative Solutions’ enterprise applications expertise — namely with Workday — enabling clients to transform operations, using strategy development, organizational change management, and deployment and management of finance, HR, planning and more.

“Running core applications in the cloud has never been more important,” said Greg Hyttenrauch, president of digital systems and technology for Cognizant. “Workday is a critical enterprise cloud suite that gives finance, HR and other functions greater resiliency and agility. Collaborative Solutions, with its rich expertise and leading position in the Workday ecosystem, expands our opportunity in cloud by establishing a new practice area in this large, fast-growing market.

“Our combined strengths in cloud strategy and enablement will differentiate our offering, positioning us to provide full support to clients throughout their digital transformation journey. We look forward to welcoming Collaborative Solutions’ talented team to Cognizant.”

Founded in 2003, Collaborative Solutions has more than 1,000 employees worldwide, with operations in Australia, Canada, and the U.K. The company has repeatedly been honored by “Great Place to Work” and “Fortune Magazine” for its workplace culture.

“As one of Workday’s longest-tenured services partners, we have expertise, depth, and proficiency in driving true finance and HR transformation,” said Carroll Ross, CEO of Collaborative Solutions. “Together with Cognizant, we will provide even greater scope and scale, helping extend our capabilities for clients to accelerate innovation in their digital agendas and optimize their Workday investments. We look forward to joining Cognizant, a Fortune 200 company that shares our passion for both client and employee success.”