Outsourcing company Cognizant has acquired Zaffera, an SAP retail consulting and software development firm, for an undisclosed sum.
Cognizant hopes the acquisition will expand its ability to provide SAP consulting and software solutions to major retailers.
"The retail industry is facing intense economic and competitive pressures. The advent of new technologies such as 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 Cognizant CEO Francisco D'Souza.
"This acquisition will strengthen our ability to help retailers address these challenges and seize new opportunities created by multi-channel retailing," he said.
Cognizant is a US firm which has over 118,000 employees, 75% of which are based in India. Its customers are mainly bluechip companies, with 79% of business done in the US and 11.8% in the UK.
In the UK, where its business is growing, Cognizant makes 45% of its revenues in financial services, 18% in pharmaceuticals, with the remaining 37% split between retail, manufacturing, telecoms and media.
27 Sep 2011