Narayan AmmachchiGlobal IT consultant Cognizant has acquired Magenic Technologies in an apparent bid to bolster its agile software development business.
Minneapolis, Minnesota-based firm will come into Cognizant’s fold with 475 software engineers in the US and more than 350 in the Philippines.
Upon completion of the deal, Cognizant will fold Magenic into its software unit called Softvision, which runs offices in several countries including Argentina and Mexico.
In addition to software development, Magenic offers cloud development, DevOps, experience design, and advisory services.
Magenic could serve as another important tool for Cognizant to expand operations in developing countries, because the US firm’s expertise includes migrating products to the cloud, building customer-facing web apps, and designing secure payment processing systems.
“Magenic has exceptional software development and cloud modernization teams that will enhance our global engineering talent network and expertise,” said Malcolm Frank, President, Digital Business and Technology, Cognizant.
“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.”
This is Cognizant’s third acquisition this year alone and the 12th announced since January 2020.
Magenic is the second digital engineering firm that Cognizant acquired in recent months. In September 2020, Cognizant acquired Tin Roof, a custom software and digital product development services company.
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