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Cognizant to snap up Lev
Posted on Tuesday, 24 March 2020 13:41
Cognizant is buying US-based digital marketing consultancy Lev for an undisclosed sum.
The deal, which will expand the buyer’s Salesforce practice, is slated to complete in the first quarter of 2020, subject to certain closing conditions.
Indianapolis-headquartered Lev provides cloud-based products for major brands in the healthcare, technology and entertainment industries.
Its offerings include strategic consulting, architecture design, technical optimisation and application integration services.
Lev also provides reporting and analytics, which help monitor clients’ emails and deliver strategic recommendations for email marketing.
The group’s suite of products and services allows users to use automation, personal preferences and data to establish customer connections.
Founded in 2006 as Levementum, the company has around 200 employees.
Greg Hyttenrauch, president of the buyer’s digital systems and technology division, said: “It [the deal] will expand Cognizant's consulting capabilities to help marketers implement marketing cloud, personalize customer connections and, in turn, generate better leads.
“Coupling this with our deep Salesforce quote-to-cash expertise, we will enable clients to effectively use the cloud to transform their critical lead-to-cash processes."
Lev’s chief executive, Michael Burton, added the transaction would allow the group to address a broader range of business and technology challenges for its clients.
The deal represents the third acquisition for the company this year, according to Zephyr, the M&A database published by Bureau van Dijk; in February, it bought US software billing developer Code Zero Consulting.
Later that month, Cognizant agreed to purchase EI-Technologies France. No financial details were disclosed for either transaction.
Based in New Jersey, the buyer provides a range of digital services and products for organisations worldwide.
During the financial year ended 31st December 2019, Cognizant generated revenue of USD 16.78 billion, up 4.0 per cent from USD 16.13 billion in the preceding 12 months.
Zephyr shows there were 467 deals targeting marketing consulting services providers announced globally in 2019.
Publicis Groupe’s acquisition of US-based Epsilon Data Management for USD 3.95 billion was largest of these.
© Zephus Ltd