Ness, a global provider of digital transformation solutions and portfolio company of The Rohatyn Group (TRG), announced today that it has signed an agreement to sell Linium, a ServiceNow platform focused services provider that operated as a business unit of Ness, to Cognizant.
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“As Ness solidifies its position as a digital engineering leader our strategy is to specialize in focus areas and build a distinctive reputation in them”
Cognizant is a leading global professional services company that transforms clients’ business, operating and technology models for the digital era. This transaction positions Linium well for future success while also creating value for Ness’ investors and allowing Ness to further build on its core competency in digital transformation, product engineering and cloud and data capabilities.
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“As Ness solidifies its position as a digital engineering leader our strategy is to specialize in focus areas and build a distinctive reputation in them,” said Ranjit Tinaikar, Chief Executive Officer, Ness. “Divestiture of the ServiceNow capability allows us to enhance our focus on and investment in building upon our competences in engineering digital products and platforms while continuing to increase our data and cloud expertise. It is through this prioritized focus that Ness will see accelerated growth while continuing to deliver maximum value to our customers. We thank Joe Burke, co-founder of Linium, and the entire Linium team for their contributions to Ness and wish them continued success.”
The transaction is expected to close in the first quarter of 2021. Stone Key Partners LLC is acting as exclusive financial advisor to Ness on the transaction. Financial details were not disclosed.
