The acquisition provides Cognizant with a broader range of end-to-end support to aid clients in digital transformation journeys. Mobica’s services include developing, testing, and deploying IoT devices and software.
Cognizant believes that Mobica’s expertise in will strengthen its position as a strategic partner in enterprise digital transformation. The acquisition is subject to regulatory approval and expected to close in February.
Mobica has several offices in Eastern Europe. The deal will increase Cognizant’s regional presence following its acquisitions of Romania-based Softvision in 2018 and Lithuanian firm Devbridge in 2021.
Mobica
“Mobica’s strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant’s Global 2,000 client base and key industries, while its large presence in Poland significantly enhances our growing development teams in Eastern Europe”, said Annadurai Elango, executive vice president of core technologies and insights at Cognizant.
“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”, he added.
Cognizant
As a result of the acquisition, Cognizant gains nearly 900 employees across Europe and North America, including 550 engineers based in Poland. The company will also take on more than 7,500 associates in Eastern Europe, including around 4,500 engineers.
The acquisition follows shortly after the appointment of Cognizant’s new CEO, Ravi Kumar, who succeeded outgoing CEO, Brian Humphries.
Cognizant will announce its Q4 2022 financial results next month, with revenue expected to clock in at $4.8 billion. Full-year revenue is expected to total $19.4 billion, outpacing earlier expectations.
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