M&A Deal Summary

Cognizant Acquires Merit Software

On March 5, 2019, Cognizant acquired software company Merit Software from Synova

Acquisition Highlights
  • This is Cognizant’s 4th transaction in the Software sector.
  • This is Cognizant’s 1st transaction in Ireland.

M&A Deal Summary

Date 2019-03-05
Target Merit Software
Sector Software
Buyer(s) Cognizant
Sellers(s) Synova
Deal Type Add-on Acquisition

Target

Merit Software

Dublin, Ireland
Merit Software is a provider of payable and receivable reconciliation and workflow solutions to global investment banks, brokers and clearing houses. Meritsoft was founded in 2000 and is based in Dublin, Ireland.

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Buyer(S) 1

Buyer

Cognizant

Teaneck, New Jersey, United States

Category Company
Founded 1988
Sector Information Technology
Employees336,800
Revenue 19.7B USD (2024)
DESCRIPTION
Cognizant's office in Hyderabad, India.
Cognizant's office in Hyderabad, India.

Cognizant is a provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Cognizant was incorporated in 1994 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 33 of 56
Sector: Software M&A 4 of 7
Type: Add-on Acquisition M&A Deals 26 of 47
Country: Ireland M&A 1 of 3
Year: 2019 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-23 Oy Samlink Ab

Espoo, Finland

Oy Samlink Ab is an experienced Finnish company developing solutions and providing services for the financial sector. As a partner of companies significant in their sectors, we provide them with reliable and straightforward cooperation. We have strong roots and solid competence in the development of multi-channel financial services. We provide comprehensive and cost-efficient services from banking systems to leading by knowledge solutions. We produce a competitive edge to our customers with innovative solutions and support their growth. We seek success with our customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-18 Zenith Technologies

Cork, Ireland

Zenith Technologies Ltd. is a life science manufacturing technology services company, specializing in full lifecycle automation, manufacturing and operational support solutions for the life science industry. Zenith Technologies operates out of 16 global locations and in proximity to all the major life science manufacturing centers. Zenith Technologies Ltd. was founded in 1998 and is based in Cork, Ireland.

Buy -

Seller(S) 1

SELLER

Synova

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 1.7B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

Synova is an independent private equity firm that invests in mid-market companies throughout the UK. Prospective companies generally possess stable cash flows, strong competitive positions and are led by experienced management teams. Synova looks to invest £15 to £150 million in transactions valued up £250 million. Synova will also consider co-investment situations. The Firm targets companies operating in the consumer products, financial services, leisure, healthcare, education business services, and IT sectors. Funds are generally used to support buyouts and growth capital needs. Synova was formed in 2007 and is based in London.


DEAL STATS #
Overall 9 of 18
Sector: Software M&A 2 of 4
Type: Add-on Acquisition M&A Deals 5 of 10
Country: Ireland M&A 1 of 1
Year: 2019 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-05 Chatsworth Schools

Oxon, United Kingdom

Chatsworth Schools is an independent schools group focused on providing high-quality education from nursery through to secondary levels. Chatsworth Schools was established in 2017 and is based in Oxon, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-20 Defaqto

Haddenham, United Kingdom

Defaqto Ltd. is an information provider to the financial services industry, focused on providing intelligence to support better decision-making. The Company provides products and services to most UK retail financial product providers, to asset managers, to financial advisers, to industry regulators and to comparison websites.

Sell £74M