This is technology M&A deal number 760 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
While terms of this deal were not disclosed, Cognizant has invested more than $2.5 billion in acquisitions since 2019, expanding its offerings in digital engineering, data and artificial intelligence, cloud and the internet of things. You can see a full list of Cognizant deals here.
Headquartered in Chicago, Devbridge is a digital product and technology consultancy focused on enterprise transformation and product development.
This most recent deal expands Cognizant’s software product engineering capabilities and global delivery footprint. Once this deal is closed, Devbridge’s 600-plus employees will become part of Cognizant Softvision, a custom digital product developer with studios in the United States, Romania, India, Philippines, Argentina, Ukraine, Canada and Mexico, the company said.
Cognizant Acquires Devbridge
Andres Angelani, senior vice president, chief product engineering officer, Cognizant, commented:
"Our clients need agile and transformative partners that are capable of designing and building new software products that directly engage with consumers and employees on their terms. Devbridge's talented team of product and engineering professionals deliver premium digital products, and we're confident their expertise and experience will help our clients grow their business and their brand."
Aurimas Adomavicius, president, Devbridge, said:
"Cognizant Softvision and Devbridge both use a product-centric approach to create results for clients, and our culture, team structures, and company values are highly aligned. We are thrilled to join Cognizant and gain access to its deep industry domain expertise and to its Global 2000 client base, and bring our capabilities in product design and engineering, data strategy, service design, and workflow automation."
Cognizant’s M&A Digital Push
This is Cognizant’s seventh announced acquisition so far in 2021. The deals typically involve digital engineering, data and AI, cloud, and IoT. Previous acquisitions included:
- January 2021: Servian
- January 2021: ServiceNow partner Linium
- February 2021: Magenic, a privately held custom software development services company headquartered in Minneapolis, Minnesota.
- March 2021: ESG Mobility for autonomous car expertise
- July 2021: TQS Integration
- August 2021: The digital engineering arm of Hunter Technical Resources