Cognizant has taken over a custom software development services company, Magenic Technologies. The sum of the deal is undisclosed. Cognizant continues to expand in its focus areas and this is its third acquisition in January.
Magenic is into offering agile software and cloud development, DevOps, experience design, and advisory services.
With this acquisition, Cognizant will expand its software product engineering footprint, adding 475 employees in the US across seven locations and more than 350 employees in Manila, Philippines.
On the completion of the acquisition, Magenic associates will join Cognizant Softvision, connecting Magenic's expertise with Cognizant's global software development capabilities.
"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," said Malcolm Frank, President, Digital Business and Technology, Cognizant.
The transaction is expected to close in the first quarter of 2021. Magenic is Cognizant's 12th acquisition since January 2020.
"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," said Greg Frankenfield, Co-Founder and Chief Executive Officer, Magenic.
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