Cognizant to acquire Mobica
NEW JERSEY, UNITED STATES — American information technology services and consulting company Cognizant announced that it entered into an acquisition agreement with global software services Tech Talent-as-a-Service (TaaS) firm Mobica.
“I’m delighted to announce that Cognizant has agreed to acquire Mobica, an IoT software engineering services provider headquartered in the UK. Mobica’s services span the software development cycle, with core competencies in implementation, testing, and the deployment of embedded software, and a specialization in clients’ strategic internal R&D projects,” Cognizant’s chief executive officer Ravi Kumar S posted on LinkedIn.
Cognizant said in a statement that the acquisition significantly expands Cognizant’s IoT embedded software engineering capabilities and provides clients with a deeper and broader array of end-to-end support to enable digital transformation.
It noted that embedded software engineering is a fast-growing segment of the IoT and engineering market. Market intelligence firm IDC forecasts global product engineering spending to increase from US$83 billion in 2021 to US$164 billion by 2026.
“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,” said Annadurai Elango, executive vice president of Cognizant’s Core Technologies and Insights.
“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.
Upon closing of the acquisition, Cognizant will add nearly 900 people across Europe and North America, including approximately 550 engineers in Poland.
