New York, N.Y., October 15, 2025 – Haven Capital Partners (“Haven”) today announced that IBM (NYSE: IBM) has entered into a definitive agreement to acquire its portfolio company, Cognitus (“Cognitus”). The transaction is subject to customary closing conditions and regulatory approvals. Financial terms were not disclosed.

Founded in 2002 and headquartered in Dallas, Texas, Cognitus brings more than two decades of SAP expertise, helping enterprise clients execute end-to-end SAP Cloud ERP implementations and application management services. As an SAP Gold and Co-Innovation Partner, Cognitus has been recognized for its industry-specific SAP solutions that enable data-driven transformation and sustainable growth.

Haven Capital Partners invested in Cognitus in 2024 during a period of rapid expansion, supporting the company’s growth as it broadened its SAP portfolio, enhanced its proprietary software capabilities, and deepened its presence across key industries.

“Becoming part of IBM enables Cognitus to amplify what we do best—accelerating SAP transformations through innovation,” said Pat Sathi, CEO of Cognitus. “This partnership creates new opportunities for our people and strengthens how we serve customers globally.”

“With IBM, we’ll be able to accelerate software innovation, enhance our portfolio, and expand our reach to serve a broader customer base,” added Nitin Khanna, Managing Director, and Amit Baid, President, of Cognitus. “With Haven Capital Partners’ support, Cognitus deepened its investment in proprietary, AI-powered software and transformed into a scaled digital solutions and software partner for enterprise clients.”

“Cognitus has built differentiated products and a strong reputation for SAP innovation through deep industry expertise,” said David Bainbridge, Co-Founder and Partner at Haven Capital Partners. “We’re proud to have supported their growth and believe the company will continue to excel as part of IBM.” Jin Kim, Co-Founder and Partner at Haven Capital Partners, added, “This milestone reflects the team’s focus, execution, and commitment to building lasting value. We look forward to seeing Cognitus’s continued success in its next chapter with IBM.”

Guggenheim Securities served as financial advisor to Cognitus and Haven Capital Partners.

About Cognitus

Cognitus, an SAP Gold and Co-Innovation Partner, is a recognized leader in delivering GROW with SAP and RISE with SAP programs for complex and regulated industries. The company combines deep industry expertise with a portfolio of SAP-Endorsed Apps and industry accelerators that extend SAP Cloud ERP to meet compliance and operational requirements. With proven experience across Aerospace and Defense, Utilities, Manufacturing, Consumer Products, Professional Services, Wholesale Distribution, and more, Cognitus enables rapid, fit-to-standard SAP implementations that help customers modernize with confidence and achieve measurable value.

About Haven Capital Partners

Haven Capital Partners is a New York-based private investment firm focused on partnering with growth-oriented, lower-middle market businesses in the tech services, healthcare, and education sectors. The Firm leverages deep industry knowledge and a collaborative approach to drive operational excellence and long-term value creation. Haven partners with strong management teams to accelerate growth by institutionalizing operations, supporting strategic growth initiatives and acquisitions, and leveraging technology to optimize performance and drive innovation. The Firm provides structured capital solutions to make control and non-control investments for growth financing, recapitalizations, strategic acquisitions, buyouts, and shareholder liquidity. For more information, visit https://havencapitalpartners.com.