Cognizant has acquired Mobica, an IoT software engineering services provider headquartered in Manchester, United Kingdom. Financial terms of the deal were not disclosed. This marks the 20 deal that ChannelE2E and MSSP Alert has covered in 2023.
Cognizant Acquires Mobica
Cognizant is based in Teaneck, New Jersey. The company has 317,288 employees listed on LinkedIn. Cognizant’s areas of expertise include interactive, intelligent process automation, digital engineering, industry & platform solutions, Internet of things, artificial intelligence, cloud, data, healthcare, banking, finance, FinTech, manufacturing, retail, technology and Salesforce applications.
Mobica, based in Manchester, UK, was founded in 2004. The company has 773 employees listed on LinkedIn. Mobica's areas of expertise include software development, iOS, UI/UX, embedded, automotive, testing, fintech, QT, semiconductor, mobile, medical, marine, aviation & defense, IoT, 5G, connected car, payments, TV & media, AR/VR, space, QA, talent, software engineering, industrial, FinTech, silicon, talent-as-a-service, hiring talent, digital transformation, software development, C++, and embedded.
The acquisition significantly expands Cognizant's IoT-embedded software engineering capabilities, the companies said. Upon closing of the acquisition, Cognizant will add nearly 900 people across Europe and North America, including approximately 550 engineers in Poland. The acquisition of Mobica builds upon Cognizant's earlier acquisitions in Eastern Europe including Softvision in 2018 and Devbridge in 2021. Those acquisitions added significant software product engineering operations in Romania and Lithuania, respectively. Upon acquiring Mobica, Cognizant will have more than 7,500 associates in Eastern Europe, including approximately 4,500 engineers, the companies said.
Annadurai Elango, executive vice president of Cognizant's Core Technologies and Insights, commented:
"Mobica's strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant's Global 2000 client base and key industries, while its large presence in Poland significantly enhances our growing development teams in Eastern Europe. We believe combining Mobica's expertise with Cognizant's strong IoT and product engineering capabilities will result in enhanced digital transformation outcomes for global clients in the technology and automotive industries and beyond."
Sam Kingston, CEO of Mobica, added:
"Mobica has built a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud. The alignment we share with Cognizant from a technology, industry and client-focus standpoint represents a strong platform for continued growth in Europe and North America, and an opportunity for our talented team to grow their skills and careers."
Cognizant M&A Activity
The acquisition is expected to close in February 2023.
Cognizant remains active on the M&A (merger and acquisition) front. The global IT consulting firm typically looks to acquire IT services businesses that focus on one to four strategic areas — such as:
- The Internet of Things (IoT);
- cloud;
- artificial intelligence and analytics; and
- software product engineering.
Moreover, the buyout targets typically focus on such platforms as Amazon Web Services, Microsoft Azure, Salesforce, ServiceNow and Workday, among others.
