Cognizant on Thursday announced an exclusive strategic partnership and the acquisition of an ownership interest of 49 per cent in ReD Associates, a strategic consulting firm specialising in the use of human sciences. The acquired company helps business leaders better understand customer behavior. Terms of the investment were not disclosed.
Based in Copenhagen and New York, ReD Associates has worked with leading global companies, including Ford, Adidas, Intel, Samsung, Novo Nordisk, Pernod Ricard and many others, to help them form a clear strategy based on a rich understanding of consumer behavior using social sciences research methods and thinking.
As part of this exclusive relationship, strategy experts, behavioral economists, anthropologists, sociologists, and ethnographers from ReD Associates will work with digital strategists, designers, technologists, and data scientists from Cognizant Digital Works. ReD Associates will retain its management team, clients, and projects, and operate independently.
Christian Madsbjerg, co-founder, ReD Associates said: "By joining forces with Cognizant, we are able to expand our business and believe that we can create an entirely new model for how digital strategy is conceived and - most importantly - executed."
Mikkel B Rasmussen, co-founder, ReD Associates, said: "There is a natural fit between our companies and with the Cognizant Digital Works approach in combining strategy, design, technology, and industry knowledge to create, prototype, and deliver compelling digital transformation for clients."
Gajen Kandiah, executive vice-president, Cognizant Digital Works said: "A richer understanding of human behavior can unlock new opportunities for our customers.
Based on a deep understanding of what people really want and need, we can use technology to provide more meaningful and engaging experiences. Our partnership with ReD Associates is a natural extension of our current joint work with select clients. Together, ReD Associates and Cognizant Digital Works provide a unique value proposition to customers who are considering digital solutions. ReD Associates provides clients with insight and strategy based on the social sciences, and Cognizant provides technical development and implementation at scale."