Sunday, February 28, 2021
News

Cognizant to acquire US-based software firm Magenic

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

San Francisco | Wednesday, 2021 1:45:06 AM IST
Information technology company Cognizant on Tuesday announced to acquire Magenic Technologies, a custom software development services company, for an undisclosed sum.

This is Cognizant's third acquisition in January this year, as the company continues to expand in key strategic focus areas.

The new acquisition will expand Cognizant's software product engineering footprint, adding 475 employees in the US. across seven locations and more than 350 employees in Manila, Philippines.

Upon completion of the acquisition, Magenic associates will become part of Cognizant Softvision, connecting Magenic's expertise with Cognizant's global software development capabilities.

"We continue to invest in digital engineering, a key priority as clients move from traditional application development to custom software to provide compelling customer experiences and differentiated productivity solutions. We look forward to welcoming Magenic's experts to Cognizant," said Malcolm Frank, President, Digital Business and Technology, Cognizant.

Magenic provides agile software and cloud development, DevOps, experience design, and advisory services.

"We have been solving complex business and technological challenges with agility and speed for over 25 years, and Magenic today continues to create highly innovative software solutions in the cloud," said Greg Frankenfield, Co-Founder and Chief Executive Officer, Magenic.

The transaction is expected to close in the first quarter of 2021. Magenic is Cognizant's 12th acquisition since January 2020.

--IANS na/

( 222 Words)

2021-01-19-19:48:05 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE SCIENCE NEWS
Vast cracks free huge iceberg in Antarct...
Cisco, Nasscom to offer 20K virtual inte...
Google AI helping India boost maternal h...
Worldwide HCP shipments grow 5.6% in Q4:...
'The Code Breaker' is an uplifting tale ...
OPPO Enco X earbuds bring premium sound ...
More...
 
INDIA WORLD ASIA
BJP ally in Assam snap ties, joins 'Maha...
JP Nadda to visit Uttar Pradesh today...
TRS President says BJP, Congress have no...
Rajasthan: Robbers dig tunnel, loot silv...
BJP can't threaten me by sending ED, CBI...
Bengal first among 5 poll-bound states i...
More...    
 
 Top Stories
Bella Hadid shares a glimpse of her... 
Myanmar protests intensifiesfying; ... 
K'taka minister appeals to CM for r... 
Myanmar protests intensifying; than... 
Vice Admiral R Hari Kumar takes cha... 
That's what we expect from players:... 
Madurai DM holds all party meeting ... 
Here's how exercise may benefit old...