Cognizant, a leading provider of information technology, consulting, and business process outsourcing services, has acquired substantially all of the assets of Zaffera, LLC, a strategic SAP retail consulting and software development firm based in Princeton, N.J.
The acquisition will significantly expand Cognizant's ability to provide industry-focused SAP consulting and software solutions to help major retailers gain better insights into their business, streamline operations, enhance customer satisfaction, and improve responsiveness to changing market conditions. Terms of the transaction were not disclosed.
Like Cognizant, Zaffera helps the world's top retail brands navigate the rapid changes in the retail sector brought about by new technology and demographic shifts. With more than 100 professionals, Zaffera has a rich pool of highly experienced SAP retail consulting talent. To provide retailers with real-time visibility into what products are on their shelves, the rate at which they are selling, and who is buying them, Zaffera 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," said Francisco D'Souza, President and CEO, Cognizant. "This acquisition will strengthen our ability to help retailers address these challenges and seize new opportunities created by multi-channel retailing. Zaffera's outstanding consulting expertise and software solutions will enhance Cognizant's rapidly growing SAP retail practice and our ability to deliver complex, large-scale global business transformations."
"As part of Cognizant, an SAP Global Services Partner, we can offer our retail clients greater scale, a broader range of services, and world-leading consulting and business process expertise to help them meet new market demands. Together, we will combine business insights, state-of-the-art technology and a client-first approach to create industry-leading solutions to complex supply chain management, merchandising, eCommerce, and store-management challenges," said Jim McMurray, CEO, Zaffera.
NOTE TO EDITORS
About Zaffera
Zaffera is a strategic consulting and software development company specializing in SAP solutions, with expertise in retail, apparel, footwear, and consumer products. Zaffera strives to become a strategic advisor by providing the experts, methodologies, and tools for an effective SAP implementation. Zaffera offers innovative thought leadership and comprehensive, best-in class services that span all phases of the SAP for Retail solution life cycle. More information is available at www.zaffera.com.
About Cognizant's Retail Practice
Cognizant's Retail practice is among the company's fastest growing industry segments and serves leading retailers in North America, Europe, and Asia-Pacific. These include 12 of the top 30 global retailers. The practice leverages its deep domain and consulting expertise to provide solutions across the retail services spectrum, and has helped retailers in the grocery, general merchandise, apparel, home and office, and consumer electronics segments transform their businesses. Its strength lies in providing a multitude of comprehensive business solutions in the areas of supply chain, merchandising, stores, e-commerce, and retail analytics. The Retail practice has made significant investment in building IP to create the "future of shopping" by leveraging technologies around mobility, cloud, and analytics.
Over Cognizant
Cognizant (Nasdaq: CTSH) is een vooraanstaande dienstverlener in IT-consultancy, technologie en Business Process Outsourcing (BPO). Cognizant werkt samen met klanten om hun bedrijfspositie sterker te maken. Het hoofdkantoor is gevestigd in Teaneck, New Jersey (VS). Cognizant combineert een passie voor klanttevredenheid, technologische innovatie en expertise in de markt en zakelijke processen. De organisatie heeft meer dan 50 locaties wereldwijd en circa 111.000 medewerkers per 31 maart 2011. Cognizant is opgenomen in de NASDAQ-100 en de S&P 500. Verder is Cognizant een Forbes Global 2000-organisatie, lid van de Fortune 500 en wordt het bedrijf genoemd als een van de beste en snelst groeiende bedrijven ter wereld. Bezoek ons online op www.cognizant.com of volg ons via Twitter: @Cognizant
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements related to the expected closing of the transaction, the anticipated benefits of the services agreement and the anticipated use of proceeds. These forward-looking statements may contain the words "intend," "anticipate," "expect," "believe," "will," "will be," "will continue," or other similar words and phrases. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contemplated by such statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include, but are not limited to: (i) general economic conditions, (ii) unanticipated system interruptions, (iii) regulatory developments with respect to use of consumer data and public records, (iv) CoreLogic's ability to (a) access needed data from external sources, (b) protect its information systems against data corruption, cyber-based attacks or network security breaches and (c) provide adequate security in the electronic transmission of sensitive data, and (v) other risks set forth in CoreLogic's most recent Annual Report on Form 10-K for the year ended December 31, 2010, as updated by CoreLogic's Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, and Cognizant's most recent Annual Report on Form 10-K for the year ended December 31, 2010, as updated by Cognizant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2011. The forward-looking statements speak only as of the date they are made. Except as required by law, CoreLogic and Cognizant do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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