M&A Deal Summary

Cognizant Acquires The TriZetto Group

On September 15, 2014, Cognizant acquired software company The TriZetto Group from Apax, Prospect Capital Management, Blue Cross Blue Shield Association and Cambia Health Solutions for 2.7B USD

Acquisition Highlights
  • This is Cognizant’s 2nd transaction in the Software sector.
  • This is Cognizant’s largest (disclosed) transaction.
  • This is Cognizant’s 7th transaction in the United States.
  • This is Cognizant’s 1st transaction in Colorado.

M&A Deal Summary

Date 2014-09-15
Target The TriZetto Group
Sector Software
Buyer(s) Cognizant
Sellers(s) Apax
Prospect Capital Management
Blue Cross Blue Shield Association
Cambia Health Solutions
Deal Type Add-on Acquisition
Deal Value 2.7B USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

The TriZetto Group

Denver, Colorado, United States
TriZetto office in Englewood, Colorado.
TriZetto office in Englewood, Colorado.
The TriZetto Group develops, licenses and manages software solutions for the US health insurance industry. The TriZetto Group is based in Denver, Colorado.

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Buyer(S) 1

Buyer

Cognizant

Teaneck, New Jersey, United States

Category Company
Founded 1994
Sector Information Technology
Employees344,400
Revenue 19.4B USD (2023)
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 14 of 55
Sector (Software) 2 of 7
Type (Add-on Acquisition) 11 of 46
State (Colorado) 1 of 1
Country (United States) 7 of 27
Year (2014) 2 of 4
Size (of disclosed) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-15 itaas

Duluth, Georgia, United States

itaas provides unique software engineering experience and expertise in the development, testing, integration and deployment of digital video delivery across cable, IP, and wireless technologies on multiple platforms including HTML5, iOS, Android, and RDK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-07 Cadient Group

King of Prussia, Pennsylvania, United States

Cadient Group is a full-service digital marketing agency that serves a broad spectrum of life sciences companies in the pharmaceutical, biotechnology, consumer health, and medical device industries.

Buy -

Seller(S) 4

SELLER

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 98 of 172
Sector (Software) 8 of 15
Type (Add-on Acquisition) 40 of 59
State (Colorado) 2 of 3
Country (United States) 40 of 64
Year (2014) 8 of 10
Size (of disclosed) 12 of 51
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 Kinetic Concepts

San Antonio, Texas, United States

Kinetic Concepts, Inc. is a developer and marketer of an innovative medical devices for advanced wound healing and therapeutic treatment systems that address skin breakdown, pulmonary complications, and circulation problems associated with patient immobility. KCI's medical devices and therapeutic systems include V.A.C.® Therapy Systems, as well as specialty beds, mattress replacement systems, wheelchair seating, and related devices. KCI serves hospitals, nursing homes, and home care settings both in the U.S. and abroad.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-15 Exact

Delft, Netherlands

Exact is a provider of business software solutions. Its integrated solutions comprise traditional enterprise resource planning (ERP) as well as related software solutions such as human resource management (HRM), customer relationship management (CRM), corporate performance management (CPM), project management, and electronic workflow. Exact was founded in 1984 and headquartered in Delft, Netherlands.

Buy €730M
SELLER

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor


Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.


DEAL STATS #
Overall 28 of 48
Sector (Software) 1 of 1
Type (Add-on Acquisition) 9 of 17
State (Colorado) 2 of 2
Country (United States) 28 of 47
Year (2014) 7 of 8
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-04 Capstone Logistics

Peachtree Corners, Georgia, United States

Capstone Logistics is a provider of outsourced supply chain solutions at nationwide distribution centers catering to the grocery, foodservice, retail, automotive, and 3PL verticals. Capstone was founded in 2011 and is based in Peachtree Corners, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-14 Ajax Rolled Ring & Machine

York, South Carolina, United States

Ajax Rolled Ring & Machine, Inc. is a manufacturer of seamless rolled rings. Ajax provides heat treating, machining, and shot blasting of the forged rings. The rings are consumed in various global end markets, including mining, construction, oil and gas, and power generation. Ajax Rolled Ring & Machine was founded in 1956 and is based in York, South Carolina.

Sell -
SELLER

Blue Cross Blue Shield Association

Chicago, Illinois, United States

Category Company
Sector Insurance
DESCRIPTION
Blue Cross Blue Shield's corporate headquarters on Michigan Avenue in Chicago, Illinois.
Blue Cross Blue Shield's corporate headquarters on Michigan Avenue in Chicago, Illinois.

The Blue Cross Blue Shield Association is a federation of 37 separate health insurance organizations and companies in the United States.


DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-11 The TriZetto Group

Denver, Colorado, United States

The TriZetto Group develops, licenses and manages software solutions for the US health insurance industry. The TriZetto Group is based in Denver, Colorado.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-25 ikaSystems

Southborough, Massachusetts, United States

ikaSystems Corp. is a provider of integrated online software applications to the healthcare payer industry.

Buy -
SELLER

Cambia Health Solutions

Portland, Oregon, United States

Category Company
Sector Healthcare Services
DESCRIPTION

Cambia Health Solutions, Inc. provides health solutions in the United States.


DEAL STATS #
Overall 1 of 2
Sector (Software) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-11 The TriZetto Group

Denver, Colorado, United States

The TriZetto Group develops, licenses and manages software solutions for the US health insurance industry. The TriZetto Group is based in Denver, Colorado.

Buy $1.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-26 Onlife Health

Brentwood, Tennessee, United States

Onlife Health brings end-to-end simplicity to population health and wellness, connecting and integrating people, technology, and benefit design through our user-friendly engagement platform to guide members to the next right thing to do in their health care journey.

Sell -