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Cognizant will acquire ESG Mobility, a digital automotive engineering R&D provider for connected, autonomous, and electric vehicles for an undisclosed sum.
The transaction, which is expected to close in Q2 2021, will expand Cognizant's automotive engineering expertise, particularly in connected vehicles.
Following the acquisition, Cognizant will employ approximately 1,000 engineering R&D specialists in its automotive innovation hubs in Germany, the US, and China. Additionally, ESG Mobility employees will contribute to Cognizant's Internet of Things (IoT) and Engineering Services Practice.
"We have built a world-class team of engineering R&D and technology consultants who deeply understand our automotive clients in Germany and around the world," said Jörg Ohlsen, chief executive officer at ESG Mobility.
"By joining Cognizant, we can provide a higher quality of service, build more innovative products and support a broader range of digital initiatives for our current and future customers. We look forward to using our vast automotive industry experience to create a more connected, mobile world."
What’s more, Cognizant and ESG Mobility will work together to provide engineering services to eight of the world's top 10 automotive original equipment manufacturers (OEM).
A wholly owned subsidiary of ESG Elektroniksystem-und Logistik-GmbH, Germany-based ESG Mobility also specializes in electrical and electronic systems and connected vehicle applications.
"The automotive industry is undergoing a fundamental shift, embracing new mobility concepts that rely heavily on software, connectivity and artificial intelligence," said Malcolm Frank, president of digital business and technology at Cognizant.
"Our priority is providing clients with the capabilities they need to compete as modern digital businesses, and ESG Mobility is a natural complement to our existing connected mobility offerings and global delivery model. This acquisition will empower our clients to innovate more quickly in shaping the future of transportation. We look forward to welcoming ESG Mobility's talented team to Cognizant."
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