Cognizant Acquires Custom Software Developer Magenic Technologies
Cognizant is acquiring Magenic Technologies, a privately-held custom software development services company focused on Amazon Web Services (AWS), Microsoft Azure, VMware Tanzu, Dynatrace and Google Cloud Platform (GCP), among others platforms. Financial terms of the deal were not disclosed.
This is M&A deal number 55 that ChannelE2E has covered so far in 2021.
- See all technology M&A deals for 2021 and 2020 listed here.
- This is Cognizant’s third acquisition in 2021. The other two deals involved buying data analytics consulting firm Servian and ServiceNow partner Linium.
- See a list of all Cognizant acquisitions here.
Magenic’s areas of expertise span Agile software and cloud development, DevOps, experience design, and advisory services. Magenic has 475 employees in the U.S. across seven locations and more than 350 employees in Manila, Philippines.
The Magenic team will tuck into the Cognizant Softvision business — which has global software development capabilities. Cognizant acquires Softvision in 2018.
Cognizant Acquires Magenic: Executive Perspectives
In a prepared statement about the Magenic acquisition, Cognizant’s Malcolm Frank, president of the digital business and technology group, said:
“Magenic has exceptional software development and cloud modernization teams that will enhance our global engineering talent network and expertise. We continue to invest in digital engineering, a key priority as clients move from traditional application development to custom software to provide compelling customer experiences and differentiated productivity solutions. We look forward to welcoming Magenic’s experts to Cognizant.”
Added Greg Frankenfield, co-founder and CEO of Magenic:
“We have been solving complex business and technological challenges with agility and speed for over 25 years, and Magenic today continues to create highly innovative software solutions in the cloud. We look forward to joining Cognizant Softvision and connecting to Cognizant’s broader range of digital expertise for the benefit of our clients.”
Global IT Consulting Firms: Technology Services Acquisitions
M&A activity among global IT consulting firms, systems integrators and public cloud MSPs continues to accelerate. Active buyers include Accenture, Atos, IBM, NTT Data, and multiple private equity firms.
The M&A land grabs typically involve cloud, big data analytics, cybersecurity, SaaS application and DevOps expertise.