Cognizant to acquire Sydney-based Adaptra
16 December 2016
Nasdaq-listed Cognizant has signed an agreement to acquired Sydney-based Adaptra, a transformation and IT services provider, which works with five of the top 10 insurers in Australia and New Zealand. However, the terms of the transaction were not disclosed.
Following the acquisition, about 100 Adaptra staff will join Cognizant. The acquisition will further strengthen Cognizant's deep insurance, business transformation and platform capabilities to help clients succeed in a technology- and data-intensive world.
Founded in 1998, Adaptra specialises in consulting, programme management, and implementation of core platforms such as Guidewire to enable insurance companies to drive improvements across key functional areas. This helps insurers increase speed-to-market, transform core processing to improve customer experience, drive competitiveness and product differentiation, and empower agents to digitally engage with customers.
''Increasingly, insurers around the world are looking to simplify critical processes relating to policies, claims and billing,'' said Jayajyoti Sengupta, Head of Asia Pacific, Cognizant.
''Analysing these processes provides an opportunity to enable insights on customer experiences and operational efficiencies. Adaptra's high-end business transformation and Guidewire expertise will complement our deep digital business, operations and systems capabilities, and further enhance our integrated solutions spanning the insurance life cycle. We welcome Adaptra's talented professionals to Cognizant and are confident that our combined strengths will help insurers navigate the shift to the digital economy,'' said Sengupta.
On 24b November, Cognizant which did a total of four acquisitions in 2014, including that of TriZetto for $2.7 billion, said it would acquire Amsterdam-based Mirabeau BV, a digital marketing and customer experience agency. The buy was to expand its digital expertise in Netherlands and across Europe.
Terms of the transaction were not disclosed.
The privately-held Mirabeau BV focuses on industries like travel and hospitality, financial services, retail and B2B sectors. It works with brands such as KLM, ING, Air France, Maxeda, MoneYou, LeasePlan.com, and Transavia.