TEANECK, N.J., Sept. 27, 2011 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, has acquired substantially all of the assets of Zaffera, LLC, a strategic SAP retail consulting and software development firm based in Princeton, N.J.
The acquisition will significantly expand Cognizant's ability to provide industry-focused SAP consulting and software solutions to help major retailers gain better insights into their business, streamline operations, enhance customer satisfaction, and improve responsiveness to changing market conditions. Terms of the transaction were not disclosed.
Like Cognizant, Zaffera helps the world's top retail brands navigate the rapid changes in the retail sector brought about by new technology and demographic shifts. With more than 100 professionals, Zaffera has a rich pool of highly experienced SAP retail consulting talent. To provide retailers with real-time visibility into what products are on their shelves, the rate at which they are selling, and who is buying them, Zaffera has developed a portfolio of SAP retail solutions and accelerators in areas such as business analytics, retail planning, point-of-sale (POS) integration, and store operations.
"The retail industry is facing intense economic and competitive pressures. The advent of new technologies like social media and mobility have created a more empowered, savvy consumer, and retailers are working harder than ever to attract and retain customers in the face of thin margins," said Francisco D'Souza, President and CEO, Cognizant. "This acquisition will strengthen our ability to help retailers address these challenges and seize new opportunities created by multi-channel retailing. Zaffera's outstanding consulting expertise and software solutions will enhance Cognizant's rapidly growing SAP retail practice and our ability to deliver complex, large-scale global business transformations."
"As part of Cognizant, an SAP Global Services Partner, we can offer our retail clients greater scale, a broader range of services, and world-leading consulting and business process expertise to help them meet new market demands. Together, we will combine business insights, state-of-the-art technology and a client-first approach to create industry-leading solutions to complex supply chain management, merchandising, eCommerce, and store-management challenges," said Jim McMurray, CEO, Zaffera.
Zaffera is a strategic consulting and software development company specializing in SAP solutions, with expertise in retail, apparel, footwear, and consumer products. Zaffera strives to become a strategic advisor by providing the experts, methodologies, and tools for an effective SAP implementation. Zaffera offers innovative thought leadership and comprehensive, best-in class services that span all phases of the SAP for Retail solution life cycle. More information is available at www.zaffera.com.
About Cognizant's Retail Practice
Cognizant's Retail practice is among the company's fastest growing industry segments and serves leading retailers in North America, Europe, and Asia-Pacific. These include 12 of the top 30 global retailers. The practice leverages its deep domain and consulting expertise to provide solutions across the retail services spectrum, and has helped retailers in the grocery, general merchandise, apparel, home and office, and consumer electronics segments transform their businesses. Its strength lies in providing a multitude of comprehensive business solutions in the areas of supply chain, merchandising, stores, e-commerce, and retail analytics. The Retail practice has made significant investment in building IP to create the "future of shopping" by leveraging technologies around mobility, cloud, and analytics.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing 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 50 delivery centers worldwide and approximately 118,000 employees as of June 30, 2011, 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 online at www.cognizant.com or follow us on Twitter: 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. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent 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.