TEANECK, N.J., Sept. 18, 2018 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced the acquisition of Advanced Technology Group (ATG), a privately-held provider of customer and revenue management consulting and implementation services focused on the Salesforce Platform. The transaction is expected to close in the fourth quarter of 2018 subject to customary reviews.
Kansas-based ATG is a leader in helping companies effectively plan, implement, and optimize automated cloud-based Quote-to-Cash (Q2C) business processes and technologies. Streamlined and automated Q2C enables greater efficiency, more accuracy, and better business visibility from initial customer contact to final payment. An effective and integrated Salesforce Q2C implementation improves the core business processes used to acquire new customers, maintain and cross-sell existing customers, and provide a superior customer experience.
Founded in 2000, ATG has delivery centers in Kansas, Missouri, Ohio and Montana, with the largest team of specialized Configure, Price, Quote (CPQ), Contract Lifecycle Management (CLM), and Billing practitioners for multiple technology platforms anywhere. ATG's clients include major financial services, healthcare, communications and technology organizations ranging from well-funded startups to fast growing mid-market and large global enterprises. ATG will become part of Cognizant's Enterprise Application Services practice, which has among one of the largest number of Salesforce-trained experts in the world.
"Managing quote-to-cash effectively is a key part of a successful digital business model, providing a solid foundation for accelerating revenue growth, to rapidly introduce new products, and implement dynamic digital marketing strategies," said Rajesh Balaji, Global Delivery Head, Enterprise Application Services, Cognizant. "Cognizant has broad expertise helping clients around the world design, implement and manage their digital business strategies on the Salesforce platform. ATG's deep Q2C domain expertise and extensive Salesforce CPQ and Billing implementation offerings strengthen Cognizant's cloud solutions portfolio as clients increasingly shift to business models that are based on recurring revenue streams, subscriptions, consumption, IoT, and as-a-service offerings."
"ATG's advisory led approach coupled with our methodology, tools and best practices have been carefully refined to generate positive outcomes for hundreds of clients over the past 18 years," said Michael Walsh, CEO, ATG. "By joining forces with Cognizant, we are better able to expand our capabilities to help global clients be more responsive to market changes and succeed with digital monetization ecosystems encompassing people, processes and technology."
"Cognizant and ATG are key Salesforce partners focused on helping our customers improve sales processes on everything from initial leads and opportunities to quotes and contracts," said Don Lynch, Senior Vice President, Worldwide Strategic Alliances at Salesforce. "The combined expertise and capabilities of Cognizant and ATG will further enhance the value provided to customers by utilizing the world's leading CRM platform."
Cognizant (Nasdaq: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the anticipated closing of the acquisition of ATG by Cognizant and expectations regarding the impact of such acquisition on the business and prospects of Cognizant and ATG. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.