US-based information technology company Cognizant yesterday acquired nearly all the assets of Zaffera, LLC, a SAP retail consulting and software developer, for an undisclosed sum.
The Nasdaq-listed $4.6-billion IT major said that the acquisition will expand its "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.
New Jersey-based Zaffera is a consulting and software development company specialising in SAP solutions, with expertise in retail, apparel, footwear, and consumer products."
According to analysts' estimates, Cognizant could have paid around $40 million, considering that Zaffera has revenues of approximately $20 million.
"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," he added.