Cognizant has entered into an agreement to acquire the professional services and application management practices of OneSource Virtual, a Workday partner based in Dallas, Texas. Acquiring these practices will complement Cognizant’s existing finance and HR advisory implementation services with Workday, expanding capabilities in consulting, deployment, and post-deployment support across North America and the United Kingdom.
“Adoption and migration to the cloud to manage workflows are only accelerating, and the Workday platform ecosystem continues to be embraced as a critical tool to provide finance, HR, and other functions greater resiliency and agility. Acquiring the professional services and application management practices from OneSource Virtual enables Cognizant to expand our client offerings and provide end-to-end support in the business transformation journey,” said Rob Vatter, Executive Vice President of Cognizant’s Enterprise Platform Services. “We are pleased to be welcoming the talented professionals from OneSource Virtual who will join Cognizant in growing and expanding our Workday capabilities globally.”
Cognizant will gain nearly 400 new employees upon closing of the acquisition, enhancing its expertise and number of professionals holding certifications in Workday implementation and support. Located throughout the United States, Canada, and the United Kingdom, these individuals will join Cognizant as part of its Collaborative Solutions team, the hub of Cognizant’s Workday practice. Acquired by Cognizant in 2020, Collaborative Solutions is one of the longest-tenured Workday Services Partners.
“We believe that our shared value of customer centricity makes Cognizant the ideal home for our professional services and application management services businesses while we concentrate on the Business Process as a Service (BPaaS) division going forward,” said Trey Campbell, Chief Executive Officer, OneSource Virtual. “We also believe customers will appreciate the way this sharpens the focus of the professional services, application management, and BPaaS teams and enables them to operate independently to speed up investment in new products and geographical expansion. In the end, what we are all about is providing growth and innovation for our customers, and we are confident that this will enhance our ability to do that more effectively.”
“We are excited about Cognizant’s acquisition of OneSource Virtual’s professional services and application management practices,” said Sam Alkharrat, Chief Partner Officer, Workday. “We look forward to continuing partnering to help our customers embark on their digital transformation journeys and equip leaders with the finance and people insights they need to respond to shifting business needs.”
The acquisition is anticipated to close by year-end 2022, subject to satisfaction of closing conditions. Financial details were not disclosed.