Nasdaq listed IT company Cognizant Technology Solutions Corp today announced the acquisition of Pepperweed Advisors, the IT consulting services division of US-based Pepperweed Consulting, for an undisclosed sum.
New Jersey headquartered Cognizant, which provides consulting, technology and BPO services, has over 50 global delivery centres and over 64,000 employees and most of them are based in India.
"The acquisition brings to Cognizant's IT Infrastructure Services practice a strategic consulting capability," Cognizant said in a statement.
It had earlier acquired another US-based consultancy firm SVC and professional services firm AimNet.
Pepperweed Advisors said it uses its proprietary best practice process models and software to act as an advisor to IT companies.
Cognizant shares were up 2.31 per cent at $35.34 on Nasdaq at close yesterday.
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"We welcome Pepperweed Advisors to the Cognizant fold as we strengthen our Cognizant Business Consulting offerings," said Cognizant President and CEO Francisco D'Souza.
"Pepperweed helps to round out our ITIS consulting portfolio while enhancing our ability to serve as trusted advisors to our clients," he added.
"Process improvement is a top priority for IT infrastructure and operations leaders in 2009," said Cognizant Vice-President (ITIS) Robert Boles.
Pepperweed Advisors brings us intellectual property, IT process models, and detailed delivery kits that deepen our domain expertise and enable hands-on implementation for our clients, leveraging our ITIL-based global service delivery framework," he added.
Pepperweed Advisors has developed substantial intellectual property and IT process models, including the Pepperweed Process Model. An "ERP for IT" reference model containing over 20 processes, which has been downloaded by more than 2,000 IT professionals in 80 countries.
In addition, Pepperweed has created PathFinder 2.0, a process-to-technology enabled software system that provides clients access to, and ongoing management of, their IT process and best practices content in a full-featured, easy-to-use Web application.