Acquisition will expand Cognizant Interactive's digital content capabilities, adding video development and distribution
TEANECK, N.J., Dec. 11, 2018 /PRNewswire/ -- Cognizant (CTSH) today announced it is acquiring Mustache, a privately-held creative content agency based in Brooklyn, NY, known for its innovative approach to planning, producing and distributing compelling video content and programming. The transaction is expected to close in the first quarter of 2019 subject to satisfaction of certain closing conditions. Financial details were not disclosed.
Founded in 2010, Mustache specializes in creating award-winning original and branded content for digital, broadcast and social mediums, all increasingly important for marketers. An April 2018 study by the Interactive Advertising Bureau (IAB) shows that nearly 60 percent of marketers' digital ad budgets today are allocated to video alone, and spending continues to rise.
Mustache's capabilities extend across the content creation continuum, from developing concepts through to production, post-production, and distribution services. Mustache's TV business unit is widely recognized for its expertise in long format video development, including the "Most Expensivest" reality series created for Viceland. The agency is also recognized for its integrated campaigns across a range of industries, including tech, tourism, beauty and television marketing. Mustache's clients include leading edge brands such as: A&E Networks, Brand USA, Google, Grammarly, L'Oréal, Netflix, and Viceland.
Upon the close of the acquisition, Mustache's team of content experts -- including creative directors, strategists, art directors, writers, producers, animators, graphic designers, video editors, and post production specialists -- will become part of Cognizant Interactive, ranked in April 2018 by Ad Age as #1 digital agency network in the United States and #3 digital agency in the world.
"CMOs are looking for a single-source, at-scale provider to help them with the capabilities they need to win in the experience economy," said Donna Tuths, Senior Vice President and Global Head of Cognizant Interactive. "Creating engaging content remains a singular challenge due to the demands of 'always on' social media channels – especially when it comes to video. With the addition of Mustache, Cognizant Interactive is even better positioned to fill this need."
Tuths added, "We look forward to welcoming the Mustache team to Cognizant Interactive. These highly-skilled content specialists and the rich expertise they bring will set us apart in our ability to provide a complete range of digital content services, particularly long format video, which we know is increasingly driving consumer engagement and purchase decisions."
"Mustache was born of the conviction that brands need to connect and engage with their customers more authentically, and the best way to do that is through honest, compelling, and provocative content," said John Limotte, Founder, Chief Executive Officer, and Executive Creative Director, Mustache. "By joining forces with Cognizant, we can leverage their deep resources and geographic reach to scale our capabilities more quickly and effectively to provide clients with more comprehensive solutions — marrying our content and creative with their cutting-edge technology and analytics to create a powerful, forward-looking, full-service model. We are particularly drawn to the global agency network developed under Cognizant Interactive, and the leading position they've taken on applied innovation and on solving clients' challenges with what they call a 'human-centered' approach. We look forward to combining our strengths with Cognizant to deliver great results for clients."
Mustache is content — Scripted, Unscripted, Live Action, Animation, Short Form, Long Form, TV, Social Media, Commercial, Branded Content and beyond. Founded in 2010 and headquartered in Brooklyn, NY, Mustache is staffed with a passionate and diverse collection of multi-hyphenate creators and doers, Mustache is uniquely calibrated to craft soup-to-nuts, visually-stunning, imaginative, thoughtful, hilarious content and campaigns for any platform. Born of an instinct to buck tradition and institutional bloat, Mustache's energized team is designed to contend with the biggest dinosaurs in the advertising, digital and entertainment industries. Learn more about Mustache at www.MustacheAgency.com.
About Cognizant Interactive
From creation to commerce, Cognizant Interactive helps clients envision and operate tomorrow's products and services today. Through connected offerings in foresight experience design, marketing, content and commerce, we run some of the largest digital support services of their kind. Industry-focused and specializing in applied innovation, our solutions are platform-enabled, AI-driven, and inspired by human insight. Our bespoke services, leveraging an international network of digital experts across 52 offices, allow us to deliver boutique service at global scale.
Cognizant (CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the anticipated closing of the acquisition of Mustache by Cognizant and expectations regarding the impact of such acquisition on the business and prospects of Cognizant and Mustache. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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