Cognizant (Nasdaq: CTSH), a Teaneck, NJ-based company dedicated to helping companies build stronger businesses, acquired Mobica, a Manchester, UK-based IoT software engineering services provider.
The amount of the deal was not disclosed. The acquisition is expected to close in February 2023, subject to satisfaction of closing conditions.
With the acquisition, Cognizant will expand its IoT embedded software engineering capabilities and provide clients with a broader array of end-to-end support to enable digital transformation. Mobica’s expertise in three key areas – connected devices and digital transformation, silicon and technology platforms, and automotive and intelligent mobility – is expected to further strengthen Cognizant’s client offerings and position as a strategic partner in enterprise digital transformation. Upon closing of the acquisition, the company will add nearly 900 people across Europe and North America, including approximately 550 engineers in Poland.
Led by CEO Sam Kingston, Mobica is a software services company, providing Tech Talent-as-a-Service (TaaS), helping businesses build experiences for their customers. The company partners with businesses across multiple industries – from aerospace to finance and semiconductors to automotive – providing them with access to talent and software engineering expertise across the entire technology stack, from concept and development, through to testing and integration, from chip to cloud. It employs over 700 software engineers.
Mobica builds upon Cognizant’s earlier efforts to establish strategic capabilities in Eastern Europe via the acquisitions of Softvision in 2018 and Devbridge in 2021, which have significant software product engineering operations in Romaniaand Lithuania, respectively. Upon acquiring Mobica, Cognizant will have more than 7,500 associates in Eastern Europe, including approximately 4,500 engineers.
FinSMEs
24/01/2023