Cognizant to acquire Thirdera to boost ServiceNow business

Global IT services provider Cognizant is set to acquire Thirdera, making them one of the world's largest ServiceNow partners. Thirdera, already a big player in ServiceNow partnerships globally, will join forces with Cognizant to bring about changes across various industries.

Thirdera's CEO, Jason Wojahn, sees this as a game-changer, saying, "This is a big moment for improving how our clients work. Teaming up with Cognizant will help us bring in efficiency and innovation."

Bill McDermott, CEO of ServiceNow, thinks Cognizant's move is bold, predicting that this acquisition will significantly boost their ability to create top-notch solutions on the ServiceNow platform. McDermott believes it's a step toward building a joint business worth over $1 billion.

Cognizant and ServiceNow have been working closely together since Cognizant acquired Linium in 2021. They've announced key partnerships and launched services like AI-powered solutions for the telecom industry.

The Thirdera acquisition is expected to wrap up in January 2024, pending the fulfillment of certain conditions. Financial details remain undisclosed, keeping the industry intrigued about the impact of this collaboration on the digital transformation scene.

Cognizant reported a flat Q3 2023 revenue at $4.89 billion as declared in November. The company reported a 16 per cent drop in net profit to $525 million for the third quarter ended September 30, 2023 as against $629 million for the same period last year.