Reston IT company to be acquired by Cognizant
Collaborative Solutions specializes in Workday Cloud Platform applications for finance and human resources.
Reston-based human resources tech company Collaborative Solutions LLC will be acquired by New-Jersey based information technology company Cognizant, the companies announced Tuesday.
Financial terms of the transaction were not disclosed and the deal is expected to close during Q2 2020.
Collaborative Solutions specializes in Workday Cloud Platform applications for finance and human resources. Following the acquisition, Cognizant will be able to add finance and HR advisory and implementation services to its cloud offerings.
“Running core applications in the cloud has never been more important,” Greg Hyttenrauch, Cognizant’s president of digital systems and technology, said in a statement “Collaborative Solutions, with its rich expertise and leading position in the Workday ecosystem, expands our opportunity in cloud by establishing a new practice area in this large, fast-growing market.”
Collaborative Solutions was founded in 2003 and has more than 1,000 employees globally, with operations in the U.S., Australia, Canada and the United Kingdom. Its clients include Fortune 500 companies, medium-sized businesses and educational and government institutions.
Founded in 1994, Cognizant and more than 270 offices and digital hubs worldwide and has more than 290,000 employees.