Cognizant acquired Meritsoft from Synova Capital and 22C Capital.

Cognizant, an American multinational corporation that provides IT services, acquired Meritsoft, a privately-held financial software company based in Dublin, from private equity investors Synova Capital and 22C Capital. Financial terms were not disclosed. "Increased compliance and regulatory obligations, focus on operational efficiency, and a range of new digital technologies are among the forces that have led many of the world's leading financial institutions to automate processes using Meritsoft and its FINBOS platform," said Sean Middleton, President, Cognizant Accelerator. "Banking and financial services is one of the largest industries that Cognizant serves. Meritsoft brings proven automation expertise in case management, regulatory compliance, payment and settlement of claims, and tax and brokerage cash flows to help our clients in transforming their businesses for the digital era."