IT consultancy major Cognizant has snapped up Zenith Technologies in a deal that will potentially bolster its technological assets in addition to widening its access to businesses in global life sciences and the pharmaceutical industry.
Cork, Ireland-based Zenith offers to build ‘smart factories’ for pharma companies, putting to use new technologies such as the Internet of Things (IoT), automation, and analytics.
Interconnected “smart factories” have become a strategic priority for the life sciences industry, with production systems and processes becoming more complex because of advancing research activities.
“In acquiring Zenith Technologies, we expand Cognizant’s IoT portfolio and extend our life sciences domain expertise by becoming a single-source provider of end-to-end smart factory capabilities,” Brian Humphries, Cognizant’s CEO, said.
“Together, we are better positioned to help clients realize information and operational technology convergence in their manufacturing operations.”
Cognizant already provides IT services to most of the world’s top life sciences companies, but Zenith’s offerings are quite unique and the most sought after in the current scenario, say analysts.
Founded in 1998, Zenith employs more than 800 people and runs 16 delivery centers across Ireland, Germany, India, Singapore, and the US.
“Our combined business will drive process excellence through tighter integration of manufacturing processes and systems, the efficient harnessing of information and analytics across the manufacturing value chain, and the adoption of IoT technologies delivering manufacturing 4.0,” said Joe Haugh, CEO, Zenith Technologies.
The transaction is expected to close in the third quarter of 2019, Cognizant said, but did not disclose the financial details of the deal.