Cognizant eyes sixth acquisition in 2020 with intent to buy Tin Roof Software

Cognizant eyes sixth acquisition in 2020 with intent to buy Tin Roof Software
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26 Aug, 2020

Information technology (IT) services major Cognizant is set to acquire Atlanta, Georgia headquartered custom software and digital product development services company, Tin Roof Software.

The deal is expected to close in the second half of 2020, subject to satisfaction of regulatory review and other conditions. Financial details of the deal have not been disclosed.

Tin Roof will be Teaneck, New Jersey based Cognizant’s sixth acquisition this year.

Its other five acquisitions in recent months include US-based companies such as Collaborative Solutions, Code Zero, Lev, and EI-Technologies.

Its most recent acquisition was Washington DC based Microsoft cloud transformation provider New Signature.

The IT services giant has bought more than 30 organisations since 2015.

Cognizant said that the acquisition will expand its software product engineering footprint in the US.

“Tin Roof’s exceptional software product development and agile teams share our philosophy of customer-centricity and will strengthen our network of engineering talent in the US,” Malcolm Frank, President, Digital Business, at Cognizant, said.

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Tin Roof, founded in 2014 by Akash Patel, Daniel Gore and Jonathan Bolt, employs more than 250 workers. It offers software design, development, DevOps and delivery services for Fortune 500 clients. It also provides custom solutions such as re-architecting and migrating products to the cloud, building customer facing web and mobile apps, creating APIs (application programming interface) and data pipelines for transaction processing as well as designing secure payment processing systems.

With operations in Atlanta and Dallas-Fort Worth, it currently provides solutions for companies in the verticals of telecom, financial services, retail, hospitality, travel, logistics, transportation and media and entertainment.

Read: Cognizant Q2 revenue drops 3.4%, even as profit slumps 41%  

Tin Roof’s experts will be merged with the employees of Cognizant’s Softvision, an Austin, Texas based company that Cognizant acquired in 2018 to strengthen its custom digital products portfolio.  

Softvision currently has offices in Argentina, Australia, Canada, India, Mexico, Romania, and the US. The acquisition is expected to benefit existing Softvision’s clients as well as those of Tin Roof.

“We look forward to our software product engineering experts joining Cognizant Softvision and connecting to Cognizant’s global delivery model, complementing Cognizant’s deep expertise in artificial intelligence, data, Internet of Things, cloud, and interactive experience,” Daniel Gore, President and Chief Executive Officer, at Tin Roof Software, said.