Cognizant snaps up Manchester-based IoT specialist Mobica
The acquisition will expand Cognizant’s embedded software engineering capabilities and boost its presence in Eastern Europe
IT services and consulting giant Cognizant has agreed to acquire Manchester-based internet of things (IoT) software engineering services provider Mobica.
The acquisition will expand Cognizant’s IoT embedded software engineering capabilities, offering clients a wider range of end-to-end support to help with their digital transformation.
Mobica’s services span the software development cycle, with core competencies in development, implementation, testing and deployment of embedded software, as well as a specialisation in clients’ internal research and development projects.
Cognizant said the firm’s expertise in three key areas – connected devices and digital transformation, silicon and technology platforms, and automotive and intelligent mobility – will help strengthen its own position as a strategic partner in enterprise digital transformation.
Expected to close in February subject to satisfaction of closing conditions, the move will also further bolster Cognizant’s presence in Eastern Europe, following its acquisitions of Romania-based Softvision in 2018, and Lithuanian firm Devbridge in 2021.
"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."
As a result of the acquisition, Cognizant will add nearly 900 people 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.
"Mobica has built a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud," said 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."
The acquisition follows hot on the heels of Cognizant’s new CEO announcement. Earlier this month, the firm revealed that former Infosys president Ravi Kumar was joining the business, succeeding outgoing CEO Brian Humphries. Under Kumar’s stewardship, Cognizant said it will look to build on its portfolio of solutions, as well as boost performance and growth.
The company will also announce its Q4 2022 financial results next month, with revenue expected to clock in at $4.8 billion (£3.9 billion) for the quarter, while full-year revenue is set to come in at $19.4 billion (£15.8 billion) - both figures outperforming earlier expectations.
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