M&A Deal Summary

Cognizant Acquires OneSource Virtual

On November 1, 2022, Cognizant acquired internet software and services company OneSource Virtual from Halyard Capital and TCV

Acquisition Highlights
  • This is Cognizant’s 8th transaction in the Internet Software and Services sector.
  • This is Cognizant’s 23rd transaction in the United States.
  • This is Cognizant’s 1st transaction in Texas.

M&A Deal Summary

Date 2022-11-01
Target OneSource Virtual
Sector Internet Software and Services
Buyer(s) Cognizant
Sellers(s) Halyard Capital
TCV
Deal Type Add-on Acquisition

Target

OneSource Virtual

Dallas, Texas, United States
OneSource Virtual is a provider of Workday Services, Solutions, and Products. OSV operates in North America and Europe to deliver outcomes that boost productivity, improve compliance, and increase internal capacity for over 1,300 customers around the world. OneSource Virtual HR was founded in 2008 and is based in Dallas, Texas.

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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 50 of 56
Sector: Internet Software and Services M&A 8 of 8
Type: Add-on Acquisition M&A Deals 41 of 47
State: Texas M&A 1 of 3
Country: United States M&A 23 of 28
Year: 2022 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-26 Mustache

Brooklyn, New York, United States

Mustache is a creative content agency that produces and distributes compelling video content and programming. Mustache was founded in 2010 and is based in Brooklyn, New York.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-29 AustinCSI

Plano, Texas, United States

AustinCSI is a management consulting firm, that provides solutions and services in the areas of business transformation, enterprise modernization, and digital services that empower change and accelerate value realization. AustinCSI was founded in 2007 and is based in Plano, Texas.

Buy -

Seller(S) 2

SELLER

Halyard Capital

Sarasota, Florida, United States

Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 600M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Halyard Capital is a private equity firm that focuses exclusively on the tech-enabled business and information services, digital marketing/data analytics, IT cyber security, and IT infrastructure and communications industries. Halyard looks to commit between $10 and $40 million of equity per transaction in companies valued up to $250 million. Investments are typically made to help support leveraged buyouts, growth equity, and other structured investments. Halyard will consider both control and non-control investment situations and prefers North American and European-based opportunities. Halyard Capital was formed in 2000 and is based in Sarasota, Florida.


DEAL STATS #
Overall 26 of 28
Sector: Internet Software and Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 15 of 16
State: Texas M&A 3 of 3
Country: United States M&A 26 of 28
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-07 EducationDynamics

Lenexa, Kansas, United States

EducationDynamics is a provider of web-based marketing, enrollment, and retention products and services to post-secondary institutions. EducationDynamics was founded in 2005 and is based in Lenexa, Kansas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 TI Health

New York, New York, United States

TI Health is a data-driven marketing and predictive analytics company that delivers omnichannel health care provider (HCP) engagement insights and activation solutions for pharmaceutical and life sciences brands. TI Health was founded in 2010 and is based in New York City.

Sell -
SELLER

TCV

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.


DEAL STATS #
Overall 80 of 84
Sector: Internet Software and Services M&A 19 of 21
Type: Add-on Acquisition M&A Deals 42 of 43
State: Texas M&A 8 of 9
Country: United States M&A 70 of 73
Year: 2022 M&A 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Retail Merchant Services

Milton Keynes, United Kingdom

Retail Merchant Services is a provider of card payment solutions to small businesses which are often overcharged and under-serviced by the banks. From credit and debit card payment machines and online payments to accepting payments over the phone, RMS provides the best card payment processing services with no hidden fees. Retail Merchant Services was founded in 2007 and is based in Milton Keynes, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-14 Rave Mobile Safety

Framingham, Massachusetts, United States

Rave Mobile Safety is a safety software partner, provides critical communication and data platform to education and healthcare institutions, enterprises and state and local public safety agencies. Rave Mobile Safety was founded in 2004 and is headquartered in Framingham, Massachusetts.

Sell -