The acquisition expands Cognizant’s IoT embedded software engineering capabilities across the technology and automotive industries.
teaneck, new jersey, January 23, 2023 /PRNewswire/ — Cognizant has entered into an agreement to acquire Mobica. Mobica is an IoT software engineering service provider headquartered in the United States. manchester, united kingdomMobica’s services span the entire software development cycle, with core competencies in embedded software development, implementation, testing and deployment, and expertise in strategic internal research and development projects for our clients.
This acquisition significantly expands Cognizant’s IoT embedded software engineering capabilities, providing clients with deeper and broader end-to-end support to enable their digital transformation. Embedded software engineering is a rapidly growing segment of the IoT and engineering market.Market research firm IDC estimates that global product engineering spending is $83 billion in 2021 $164 billion By 2026.1
Overall, Cognizant will add nearly 900 employees once the acquisition is complete. Europe When North Americaincluding about 550 engineers Poland.
“Mobica’s strong track record of delivering strategic embedded software engineering services aligns well with Cognizant’s Global 2000 customer base and key industries. Poland Significantly strengthen your growing development team Eastern Europe,” Said Annadurai Elango, Executive Vice President of Core Technologies and Insights at Cognizant. We believe that combining Mobica’s expertise with Cognizant’s strong IoT and product engineering capabilities will enhance his digital transformation outcomes for global clients such as the technology and automotive industries. ”
Mobica’s expertise in three key areas: Connected Devices and Digital Transformation, Silicon and Technology Platforms, and Automobiles and Intelligent Mobility will further strengthen Cognizant’s offerings to clients and position it as a strategic partner in enterprises’ digital transformation. is expected to strengthen
“Mobica has earned a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud. Sam Kingston, CEO of Movica. “Partnering with Cognizant from a technology, industry and customer-centric perspective represents a powerful platform for continued growth. Europe When North America, and opportunities for our talented team to grow their skills and careers. ”
Mobica builds on Cognizant’s previous efforts to establish strategic capabilities. Eastern Europe Acquired Softvision in 2018 and Devbridge in 2021. Romania When Lithuania, Respectively. Acquiring Mobica, Cognizant has over 7,500 associates Eastern Europeincluding about 4,500 engineers.
Acquisition is February 2023, provided that the closing conditions are met. Financial details were not disclosed.
Mobica is a global software services company that provides Tech Talent-as-a-Service (TaaS), helping businesses build pioneering experiences for their customers.Head office location manchester uk offices are scattered Europe Mobica has partnered with companies in multiple industries, from aerospace to finance, semiconductor to automotive, and brings incredible talent and software engineering expertise across the entire technology stack, from concept and development to test and integration, chip to integration. Provides access to knowledge. to the clouds. With over 700 world-class software engineers, his Mobica specializes in turning complex business challenges into competitive advantages through deep cross-industry experience and massive delivery capabilities. increase. Since 2004, we have been promoting our expertise. Follow Mobica: LinkedIn, Facebook, YouTube
Cognizant (Nasdaq: CTSH) designs the modern business. We help our clients modernize technology, reimagine processes and transform experiences to stay ahead in a rapidly changing world. Together, we are improving our lives every day. See how at www.cognizant.com or @cognizant.
This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Its accuracy is necessarily subject to risks, uncertainties and assumptions regarding future events that may not be verifiable. Be accurate. These statements include express or implied forward-looking statements regarding our expectations regarding the growth of the global IoT market, the expected completion of the Mobica acquisition, and the impact of the Mobica acquisition on our business and future prospects. but not limited to: It has recognized. These statements are neither promises nor guarantees, but are subject to various risks and uncertainties, many of which are beyond our control, and actual results cannot be assumed in these forward-looking statements. Current and prospective investors are cautioned not to place undue reliance on these forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets in which we compete, and competition for talent. and changes in the regulatory environment, including those related to legal, reputational, cyber-attacks, immigration and tax, and the most recent annual report on Form 10-K and securities trading financial risks arising from other factors as described in other filings with the Commission; Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
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1 International Data Corporation (IDC); Global Product Engineering and Operational Technology Services Forecast, 2022-2026, US48533822; August 2022.
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SOURCE Cognizant Technology Solutions