Source: The Economic Times India
Cognizant said it bought US consultancy Code Zero for an undisclosed amount to strengthen its cloud solutions portfolio. Code Zero provides cloud-based ‘configure-price-quote’ and billing solutions.”The acquisition of Code Zero enriches our cloud offerings, brings deep domain expertise to our clients and further strengthens our strategic relationship with Salesforce.com,” said Brian Humphries, CEO of Cognizant. Code Zero is a Salesforce Platinum Partner and includes global enterprises among its clients across industries, particularly manufacturing and financial services, Cognizant said. According to professional networking site LinkedIn, Code Zero has at least 54 employees.”We believe there could be more given not all employees are likely connected (to Linkedin). If we assume Code Zero generates $200-250k per employee (consulting-focused and US-based), we think the acquisition could add ~$15-20 million to annual company revenue,” David Koning, analyst with US brokerage Robert Baird said in a note.