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News and Announcements

CMB Advises Cognizant On Its Acquisition Of Odecee

  • Published November 21, 2014 9:18AM UTC
  • Publisher Wholesale Investor
  • Categories Company Updates

12 November 2014

LEADING GLOBAL PROVIDER OF INFORMATION TECHNOLOGY, CONSULTING AND BUSINESS PROCESS OUTSOURCING SERVICES, COGNIZANT, HAS ACQUIRED ODECEE, AN AUSTRALIAN BASED SPECIALIST IN ENTERPRISE MOBILE, WEB AND CLOUD SERVICES, INCLUDING APPLICATION DEVELOPMENT, PERFORMANCE MANAGEMENT/ENGINEERING, DEVOPS AND TECHNOLOGY CONSULTING.

Cognizant (NASDAQ: CTSH; market capitalisation of US$32bn), the IT services giant, today announced the acquisition of Odecee, a leading provider of digital solutions to enterprises in the Australia and New Zealand region. CMB acted as Cognizant’s exclusive financial adviser on the transaction and followed a comprehensive yearlong search covering more than 35 leading Australian IT services firms.

Founded in 2007, Odecee delivers leading-edge enterprise mobility, web and cloud solutions to marquee clients in the financial services, insurance, healthcare, logistics, and communications industries. This acquisition further strengthens Cognizant’s digital business transformation expertise and expands its portfolio of tools and services to help clients create digital enterprises that capitalize on new business models, drive innovative products and services, enhance workforce productivity, and improve customer experience.

As part of this acquisition, approximately 150 digital specialists with expertise across enterprise mobile, web and cloud services will join Cognizant. This acquisition also brings to Cognizant intellectual property such as Velocedee, a platform that helps centralize highly secure mobile applications and enables rapid implementation of core business processes across a wide range of mobile devices.

“This strategic acquisition underscores our commitment to the local market and our focus on strengthening our digital capabilities,” said John Burgin, Regional Head for Australia and New Zealand, Cognizant. “Rapid consumerization of technology is driving business reinvention across industries and blurring the distinction between the physical and the digital worlds. As businesses become increasingly technology-intensive and physical processes get instrumented and digitized, our strong portfolio of services, coupled with our aggressive investments in SMAC (social, mobile, analytics and cloud) technologies, will help clients drive meaningful change and build ever more connected, collaborative, and real-time businesses. We welcome Odecee’s talented professionals to Cognizant and look forward to leveraging our combined strengths to empower clients to address the needs of the digital era.”

“This is a strategic step forward for us and opens up a significant growth opportunity for us across newer technologies and industries,” said Con Mouzouris, Co-founder and Managing Director of Odecee. “Becoming a part of Cognizant will enable us to expand our capabilities, services and exposure, while ensuring the long-term vitality and sustainability of the business. The remarkable success of Odecee, like Cognizant, is built on the foundation of customer satisfaction, deep expertise, exceptional talent, and the ability to deliver best-of-breed solutions. Expansion is critical for us to continue our strong growth, develop better solutions for our current and future customers, and provide greater opportunities for our employees. Our clients will now benefit from an expanded pool of specialized skills, global experience, and industry-acclaimed best practices.”

ABOUT CMB

Headquartered in Sydney, CMB is a corporate advisory and investment firm with specialist expertise in the TMET (telecommunications, media, entertainment and technology) industries. We bring years of board and management experience to our clients and investors. CMB is wholly focused on creating value for our investors across the current portfolio as well as helping our clients deal with the challenges of a competitive marketplace whether that is advising on transformational mergers and acquisitions, driving online strategies or managing the impact of innovation and market disruption.

Independent and highly client focused, CMB has become the advisor and investor of choice for online and digital media companies in the Australasian market. Since the Company’s formation in 2010, we have successfully advised leading Australian and international corporates including Cognizant, RP Data, Core Logic, MYOB and Open Universities to name a few. As an early stage investor, CMB is also building an exceptional and enviable track record, particularly in the areas of ad tech, entertainment, online marketplaces and online health. CMB enjoys C-level and board relationships with a majority of the leading and emerging TMET companies in the Australian market. We are rapidly growing an international reputation and network which we leverage for our clients and portfolio companies.

For more information about CMB, please visit www.cmbcapital.com.au.

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