Cognizant Acquires Magenic Technologies for Digital Engineering Boost
Cognizant has acquired Magenic Technologies, a custom software development services company, for an undisclosed sum. The deal, expected to close in the first quarter of 2021, is Cognizant's third acquisition this January and its 12th since January 2020.
Magenic, known for its agile software and cloud development, DevOps, experience design, and advisory services, will join Cognizant Softvision upon completion. This brings 475 employees from seven US locations and over 350 employees from Manila, Philippines, into the fold.
Malcolm Frank, President of Digital Business and Technology at Cognizant, sees this acquisition as aligning with their priority to invest in digital engineering. Greg Frankenfield, Co-Founder and CEO of Magenic, highlighted the company's 25-year history of solving complex challenges with agility and speed.
With this acquisition, Cognizant expands its software product engineering footprint. The addition of Magenic's expertise is expected to strengthen Cognizant's global software development capabilities.
Read also:
- Germany's Social Workers in High Demand Despite Salary Disparities
- Minimal Essential Synthetic Intelligences Enterprise: Essential Minimum Agents
- Tesla is reportedly staying away from the solid-state battery trend, as suggested by indications from CATL and Panasonic.
- UK automaker, Jaguar Land Rover, to commit £500 million for electric vehicle manufacturing in Merseyside
