Chennai: Nasdaq-listed information technology company Cognizant has acquired the assets of retail consulting and software development firm Zaffera LLC for an “undisclosed amount".

Cognizant Technology Solutions India Pvt Ltd, a leading global IT and BPO services provider at their offices at Old Mahabalipuram Road, Chennai. File photo.

“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", Cognizant CEO and president Franciso D’Souza said.

The acquisition would strengthen the company’s ability to help retailers address these challenges and seize new opportunities created by multi-channel retailing. Zaffera’s consulting expertise and software solutions would enhance Cognizant’s rapidly growing SAP retail practice,he said.

Cognizant currently employs over one lakh people and has over 50 delivery centres worldwide, the statement added.