Acquisition expands Cognizant’s IoT embedded program engineering capabilities across engineering and automotive industries
TEANECK, N.J., Jan. 23, 2023 /PRNewswire/ — Cognizant has entered into an arrangement to obtain Mobica, an IoT software package engineering services supplier headquartered in Manchester, United Kingdom. Mobica’s products and services span the comprehensive software program improvement cycle, with core competencies in development, implementation, testing and deployment of embedded application, and a specialization in clients’ strategic internal investigate and advancement assignments.
The acquisition substantially expands Cognizant’s IoT embedded application engineering capabilities and supplies shoppers with a deeper and broader array of conclusion-to-conclude guidance to enable digital transformation. Embedded program engineering is a rapid-increasing section of the IoT and engineering market. Sector intelligence firm IDC forecasts worldwide product or service engineering spending to boost from $83 billion in 2021 to $164 billion by 2026.1
Upon closing of the acquisition, Cognizant will incorporate practically 900 folks throughout Europe and North The united states, including approximately 550 engineers in Poland.
“Mobica’s sturdy track history of providing strategic embedded computer software engineering products and services is well-aligned to Cognizant’s World wide 2000 client foundation and essential industries, whilst its big presence in Poland considerably improves our developing growth teams in Jap Europe,” mentioned Annadurai Elango, executive vice president of Cognizant’s Main Systems and Insights. “We consider combining Mobica’s experience with Cognizant’s strong IoT and product or service engineering capabilities will consequence in enhanced electronic transformation outcomes for world clientele in the know-how and automotive industries and past.”
Mobica’s knowledge in three key regions – related units and digital transformation, silicon and know-how platforms, and automotive and smart mobility – is envisioned to even further bolster Cognizant’s customer choices and place as a strategic spouse in company digital transformation.
“Mobica has designed a standing for globe-class IoT embedded software engineering skills across the complete engineering stack, from chip to cloud,” mentioned Sam Kingston, CEO of Mobica. “The alignment we share with Cognizant from a technologies, market and client-aim standpoint represents a robust platform for ongoing development in Europe and North America, and an opportunity for our talented workforce to grow their competencies and occupations.”
Mobica builds upon Cognizant’s earlier efforts to create strategic capabilities in Jap Europe through the acquisitions of Softvision in 2018 and Devbridge in 2021, which have significant software product or service engineering functions in Romania and Lithuania, respectively. Upon buying Mobica, Cognizant will have much more than 7,500 associates in Jap Europe, like close to 4,500 engineers.
The acquisition is envisioned to shut in February 2023, subject matter to satisfaction of closing problems. Monetary facts were being not disclosed.
Mobica is a global program services organization, furnishing Tech Expertise-as-a-Service (TaaS), helping enterprises create pioneering encounters for their buyers. Headquartered in Manchester United kingdom with offices throughout Europe and US, Mobica associates with companies across numerous industries – from aerospace to finance and semiconductors to automotive – providing them with access to amazing expertise and computer software engineering knowledge throughout the entire technologies stack, from strategy and enhancement, by to tests and integration, from chip to cloud. With more than 700 earth course application engineers, Mobica specialises in turning elaborate small business problems into competitive benefit via extensive cross-business encounter and capability to supply at scale. Driving abilities considering that 2004. Observe Mobica: LinkedIn, Facebook, YouTube
Cognizant (Nasdaq: CTSH) engineers modern day companies. We assist our shoppers modernize technological know-how, reimagine processes and transform ordeals so they can stay in advance in our speedy-changing environment. Together, we are bettering day to day life. See how at www.cognizant.com or @cognizant.
This press launch includes statements which may well constitute forward-on the lookout statements designed pursuant to the risk-free harbor provisions of the Private Securities Litigation Reform Act of 1995, the precision of which are essentially subject matter to threats, uncertainties and assumptions as to long run activities that may possibly not establish to be precise. These statements include, but are not confined to, categorical or implied forward-hunting statements relating to expectations about advancement in the worldwide IoT sector, the anticipated closing of the acquisition of Mobica and the impression of the acquisition of Mobica on the enterprise and prospective buyers of Cognizant. These statements are neither guarantees nor guarantees but are topic to a selection of challenges and uncertainties, lots of of which are beyond our control, which could lead to genuine final results to vary materially from those people contemplated in these forward-hunting statements. Current and prospective traders are cautioned not to position undue reliance on these forward-wanting statements, which converse only as of the day hereof. Factors that could cause actual effects to differ materially from these expressed or implied contain typical financial problems, the aggressive and rapidly altering mother nature of the marketplaces we compete in, the aggressive market for expertise and its impact on personnel recruitment and retention, legal, reputational, and economical pitfalls resulting from cyberattacks, alterations in the regulatory environment, together with with regard to immigration and taxes, and the other things reviewed in our most current Annual Report on Variety 10-K and other filings with the Securities and Exchange Fee. Cognizant undertakes no obligation to update or revise any ahead-on the lookout statements, no matter if as a consequence of new info, foreseeable future occasions, or normally, other than as may perhaps be demanded below applicable securities law.
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1 International Details Company (IDC) Around the globe Item Engineering and Operational Know-how Companies Forecast, 2022–2026, US48533822 August, 2022.
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