Nasdaq-listed software services company Cognizant said on Tuesday it has agreed to acquire Advanced Technology Group (ATG), a privately held firm that provides customer and revenue management consulting and implementation services on the Salesforce Platform.
The transaction is likely to close in the fourth quarter of 2018 subject to customary reviews, Cognizant said in a statement. It didn't disclose the deal value.
Kansas-based ATG helps companies plan and implement automated cloud-based Quote-to-Cash (Q2C) business processes and technologies.
Founded in 2000, ATG has delivery centers in Kansas, Missouri, Ohio and Montana. Its clients include financial services, healthcare, communications and technology companies.
ATG will become part of Cognizant's Enterprise Application Services practice.
"Managing quote-to-cash effectively is a key part of a successful digital business model, providing a solid foundation for accelerating revenue growth, to rapidly introduce new products, and implement dynamic digital marketing strategies," said Rajesh Balaji, global delivery head of the Cognizant's Enterprise Application Services practice.
ATG will strengthen Cognizant's cloud solutions portfolio as clients increasingly shift to business models that are based on recurring revenue streams, subscriptions, consumption, IoT, and as-a-service offerings, Balaji said.
Cognizant joins Infosys Ltd in acquiring a company to boost its cloud capabilities. Infosys had last week agreed to acquire Finnish company Fluido for about $76 million to strengthen its enterprise cloud capabilities and presence in Europe.
Cognizant’s other acquisitions
The acquisition of ATG is the fourth deal that Cognizant, which has significant operations in India, has struck this year.
Last year, too, Cognizant had made a number of acquisitions. In November 2017, it bought Zurich-based digital marketing firm Netcentric. The previous month, it had agreed to acquire London-based full-service digital agency Zone.