Cognizant (CTSH) Expands Automotive Footprint, Buys ESG Mobility
Cognizant Technology Solutions CTSH recently entered into an agreement to acquire Germany-based ESG Mobility, a digital automotive engineering research & development provider for connected, autonomous and electric vehicles.
The deal expands Cognizant’s footprint in growing markets, including cloud, data and artificial intelligence, digital engineering, and Internet of Things (IoT) capabilities.
Upon completion of the acquisition in second-quarter 2021, roughly 1,000 engineering R&D specialists will join Cognizant in the automotive innovation hubs of Germany, the United States and China.
ESG Mobility is Cognizant’s fourth acquisition in 2021, and the 13th announced since January 2020.
Markedly, in January, Cognizant announced the acquisition of Magenic Technologies, a privately-held custom software development services company. The acquisition expands Cognizant’s software product engineering footprint as Magenic provides agile software and cloud development, DevOps, experience design, and advisory services to clients across industries, including financial services, professional services, insurance, pharmaceutical, and manufacturing.
Prior to that, the company acquired Linium, a cloud transformation consultancy group specializing in the ServiceNow NOW platform and solutions for smart digital enterprise workflows.
Additionally, the company announced the acquisition of Servian, an Australia-based, privately held enterprise transformation consultancy specializing in data analytics, artificial intelligence, digital services, experience design and cloud. The acquisition of Servian significantly expands Cognizant's integrated, end-to-end digital transformation capabilities in Australia and New Zealand .
Moreover, acquisitions of Inawisdom, Merisoft, Zenith Technologies, Contino, Code Zero, El-Technologies, Tin Roof Software and 10th Magnitude have strengthened the company’s digital capabilities and clientele.
Inawisdom’s Rapid Analytics and Machine Learning Platform, or RAMP, developed using Amazon Web Services, helps Cognizant deliver machine learning solutions and end-to-end cloud-native artificial intelligence-driven data analytics to its customers.
Meanwhile, the acquisition of 10th Magnitude deepens Microsoft MSFT Azure’s cloud-computing expertise within Cognizant's New Microsoft Business Group in the United States.
Further, the buyout of global consultancy company, Collaborative Solutions, which specializes in Workday WDAY enterprise cloud applications, extends Cognizant’s cloud offerings by adding new finance, and human resource advisory and implementation services to the portfolio.
These acquisitions have helped the company expand in countries like Ireland, France and Canada, thereby driving top-line growth.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Microsoft Corporation (MSFT) : Free Stock Analysis Report
Cognizant Technology Solutions Corporation (CTSH) : Free Stock Analysis Report
Workday, Inc. (WDAY) : Free Stock Analysis Report
ServiceNow, Inc. (NOW) : Free Stock Analysis Report
To read this article on Zacks.com click here.
