TEANECK, N.J., July 28, 2016 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced it has acquired Idea Couture, a privately-held firm that offers a broad range of digital innovation, strategy, design and technology services. The terms of the transaction were not disclosed.
The rapid rise of a new generation of digital technologies – including artificial intelligence, mobility, business analytics, cloud services, and the Internet of Things – is disrupting every industry. As a result, enterprises are looking to understand and apply these next-generation technologies to front office customer experience, middle office business process and back office IT systems, reshaping how they interact with customers, employees, partners and others in the digital economy.
To help clients succeed in this new economy, Cognizant Digital Works brings together human insight, strategy, design, technology, and industry expertise to create innovative solutions at enterprise scale. Idea Couture, which will become part of Cognizant Digital Works, specializes in designing and prototyping products, services and business models that take advantage of the latest technologies.
Based in Toronto, and with offices in the U.S., Europe, and Latin America, the firm has more than 170 social scientists, strategists, anthropologists, user experience experts, designers, and connected product developers who serve leading companies across multiple industries, including: Samsung, PepsiCo, Cox, Citi Ventures, Kroger, ConAgra Foods and others.
"Idea Couture has a track record of success in managed innovation – including rapidly envisioning, designing and prototyping digital solutions – to help companies create connected products, engage customers, and deploy new business models for growth and competitive advantage," said Gajen Kandiah, Executive Vice President, Cognizant Digital Works. "The Idea Couture team's capabilities accelerate our ability to help clients transform their customer experiences, core business processes, partner relationships, and supporting systems."
"Building on our recently announced partnership with ReD Associates, this acquisition further advances our strategy to bring together world-class capabilities in behavioral insight, strategy, design, and technology to deliver innovative and impactful solutions for our clients in banking, insurance, life sciences, and our other key industries," added Kandiah.
"We are excited to build on our vision of a new kind of company that can conceive and build new products and experiences and bring transformation to our clients," said Idris Mootee, CEO at Idea Couture. "As part of Cognizant Digital Works, we will be able to do even more exciting things with design and technology. By connecting with Cognizant's proven technical abilities, global scale, and domain expertise, we can help our clients realize the value of their innovation efforts."
About Idea Couture
Idea Couture is a global strategic innovation and experience design firm. Idea Couture operates where design meets business, insight meets foresight, and empathy meets economics. It helps organizations navigate and innovate in complex and uncertain environments to generate new growth, meaningful differentiation, and economic value. See: www.ideacouture.com.
About Cognizant Digital Works
Cognizant Digital Works brings together human insight, digital strategy, industry knowledge, design, and new technologies to help clients create, build, and run digital business solutions. For more information, please visit www.cognizant.com/digital or join the conversation on LinkedIn.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 100 development and delivery centers worldwide and approximately 233,000 employees as of March 31, 2016, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500, and is ranked among the top performing and fastest growing companies in the world. Visit us at www.cognizant.com or follow us on Twitter: Cognizant.