Cognizant Intends to Acquire EI-Technologies, a Leading Euro
TEANECK, N.J., Feb. 4, 2020 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) has entered into exclusive negotiations to acquire the French operations of EI-Technologies, a Paris-based, privately-held digital technology consulting firm and leading independent Salesforce specialist in France. The proposed acquisition would complement Cognizant's global Salesforce practice, expanding client resources in Europe.
The planned acquisition requires advance consultation with the relevant works councils and would be subject to customary closing conditions. Financial terms of the proposed transaction are not being disclosed.
"We're determined to help our clients become fully digital, data-enabled, customer-centric businesses. Cloud has changed the way IT is delivered across infrastructure, applications and platforms, and is one of our strategic focus areas," said Brian Humphries, Cognizant CEO. "EI-Technologies, based in France, would not only support our effort to further scale our international business but also add Salesforce expertise and capabilities to our cloud management portfolio."
Through this acquisition, Cognizant would add approximately 345 employees in France.
"We're excited at the prospect of bringing our expertise and deep relationships within the Salesforce ecosystem together with Cognizant's rich knowledge and extensive capabilities in digital transformation as a whole," said Béchara Raad, founder and CEO of EI-Technologies. "Joining Cognizant would enable us to address a wider range of client needs -- including automation, artificial intelligence, customer experience design and more -- that are emerging in the digital economy, and to pursue projects on a larger scale."
EI-Technologies is a Salesforce Platinum Partner, and its EI-Institut is among the largest Salesforce Authorized Training Delivery Partner centers in Europe. EI-Technologies' clients include leading companies listed on the French stock market's CAC 40 index in the manufacturing, energy and utilities, financial services and luxury industries. In addition to Salesforce expertise, the company also specializes in Microsoft collaboration platform solutions and CIO advisory services.
Founded in 2008, EI-Technologies has been recognized in France by Salesforce for its client solutions, receiving the Salesforce Award for specialist partner in 2016 and 2017, as well as the Salesforce Award for most innovative project and partner in 2018. The company also won the 2019 Salesforce Award in the Innovation – Most Innovative Partner category, for creating AppInnovation, the first European Salesforce app development event.
Cognizant's Salesforce Certified Consultants are spread across more than 35 countries. The company has received numerous accolades from Salesforce, including, most recently, two Partner Innovation Awards in 2019. Cognizant was also recognized as a market Leader in the Salesforce Ecosystem Quadrant Report for 2019 by Information Services Group (ISG), a leading independent global technology and research advisory firm. Learn more about Cognizant's Salesforce Practice here.
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EI-Technologies is a leading independent Salesforce Platinum Partner on the French market. Digital pure player EI-Technologies offers consulting, solution implementation and training in three expertise domains:
With more than 2000 people trained per year, EI-Institut is one of the first Salesforce training partners in France. A top quality and very loyal client base, experience on major projects, and a pool of talent with highly qualified niche expertise (more than 400 Salesforce certifications) are EI-Technologies' great assets.
Cognizant (Nasdaq-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 193 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant
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 the proposed acquisition of EI-Technologies and the impact of the acquisition of EI-Technologies on the business and prospects of Cognizant and EI-Technologies. 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, 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.
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