IT Staffing Report: May 7, 2020

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Cognizant to acquire Collaborative Solutions, a Workday consulting firm

Cognizant (NASDAQ: CTSH) struck a deal to acquire Collaborative Solutions, a consulting firm specialized in Workday enterprise cloud applications for finance and human cloud resources.

The deal is set to close this quarter and is subject to closing conditions and regulatory clearance. Financial details of the deal were not announced.

Cognizant reported the acquisition of Collaborative Solutions will add finance and HR advisory and implementation services to its cloud offerings.

Collaborative Solutions is headquartered in Reston, Virginia, and has more than 1,000 employees worldwide. In addition to the US, the company has operations in Australia, Canada and the UK. It was founded in 2003.

Separately, Cognizant in April withdrew its financial guidance for the full year. However, it expects to report first-quarter revenue to be up 3.4% to 3.6% in constant currency to between $4.22 billion and $4.33 billion.