Acquisition expands Cognizant’s IoT embedded software engineering capabilities across technology and automotive industries
TEANECK, N. J. , Jan. 23 , 2023 /PRNewswire/ — Aware has entered into an agreement to acquire Mobica, an IoT software executive services provider headquartered in Manchester, United Kingdom . Mobica’s services span the full software development cycle, with core competencies in advancement, implementation, testing and deployment of inlayed software, and a specialization inside clients’ strategic internal research and development projects.
The acquisition significantly expands Cognizant’s IoT inserted software engineering capabilities and provides clients with a deeper plus broader array of end-to-end support to enable digital transformation. Embedded software program engineering is a fast-growing segment of the IoT and engineering market. Market intelligence firm IDC forecasts global product architectural spending to increase from $83 billion in 2021 in order to $164 billion by 2026. 1
Upon closing from the acquisition, Cognizant will add nearly 900 people throughout Europe plus North America , including approximately 550 engineers in Poland .
“Mobica’s strong track record of delivering strategic embedded software executive services will be well-aligned to Cognizant’s Global 2000 client base and key sectors, while the large presence in Poland significantly enhances our growing development teams in Eastern Europe , ” said Annadurai Elango , executive vice president of Cognizant’s Core Technologies and Insights. “We believe combining Mobica’s expertise along with Cognizant’s solid IoT plus product anatomist capabilities will result in enhanced digital transformation outcomes for worldwide clients in the technology and automotive industrial sectors and beyond. ”
Mobica’s expertise within three key areas – connected devices and electronic transformation, silicon and technology platforms, plus automotive and intelligent mobility – is usually expected in order to further strengthen Cognizant’s customer offerings plus position as a strategic partner in enterprise digital transformation.
“Mobica has built a reputation for world-class IoT inlayed software anatomist expertise across the entire technology stack, from chip to cloud, ” stated Sam Kingston , CEO of Mobica. “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. ”
Mobica builds upon Cognizant’s earlier efforts to establish tactical capabilities within Eastern European countries via the acquisitions of Softvision in 2018 and Devbridge in 2021, which have significant software product engineering operations in Romania and Lithuania , respectively. Upon acquiring Mobica, Aware will have more than 7, 500 associates in Far eastern Europe , including approximately 4, 500 engineers.
The particular acquisition is definitely expected to close in February 2023 , subject to satisfaction of closing conditions. Financial details were not disclosed.
Mobica is a global software services company, providing Tech Talent-as-a-Service (TaaS), helping businesses build pioneering experiences for their customers. Headquartered in Manchester UK with offices throughout Europe plus US, Mobica partners along with businesses across multiple industries – from aerospace in order to finance and semiconductors to automotive – providing them with access in order to incredible talent and software program engineering expertise across the whole technology collection, from concept and growth, through to testing and integration, from nick to cloud. With over 700 world class software engineers, Mobica specialises inside turning complex business challenges into competitive advantage through vast cross-industry experience plus ability to deliver at scale. Driving expertise since 2004. Follow Mobica: LinkedIn , Facebook , YouTube
Cognizant (Nasdaq: CTSH ) engineers modern companies. We help our clients modernize technologies, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we’re improving everyday life. See how in www.cognizant.com or @cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant in order to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the particular accuracy associated with which are necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These claims include, but are not limited to, express or implied forward-looking statements relating in order to expectations regarding growth within the global IoT market, the anticipated closing of the acquisition of Mobica and the impact of the acquisition of Mobica on the business and prospects of Aware. These statements are neither promises nor guarantees but are subject matter to a variety of risks plus uncertainties, many of which are usually beyond our own control, which could cause actual results to differ materially from those contemplated in these forward-looking claims. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which usually speak only as of the particular date hereof. Factors that could trigger actual leads to differ materially from all those expressed or even implied include general economic conditions, the competitive plus rapidly changing nature from the markets we compete in, the competing marketplace with regard to talent and its impact upon employee recruitment and retention, legal, reputational, and financial risks resulting from cyberattacks, changes in the regulatory environment, which includes with respect to immigration and taxes, and the particular other factors discussed within our most recent Annual Report on Form 10-K and other filings with the Investments and Exchange Commission. Cognizant undertakes no obligation in order to update or revise any forward-looking statements, whether as a result of new information, future occasions, or otherwise, except as may be required under applicable securities law.
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one International Data Corporation (IDC); Worldwide Product Engineering and Operational Technology Services Forecast, 2022–2026, US48533822 ; August, 2022.
SOURCE Cognizant Technologies Solutions