Cognizant has entered into an agreement to acquire Mobica, an IoT software engineering services provider headquartered in Manchester, United Kingdom. Mobica's services span the full software development cycle, with core competencies in development, implementation, testing and deployment of embedded software, and a specialization in clients' strategic internal research and development projects.
The acquisition significantly expands Cognizant's IoT embedded software engineering capabilities and provides clients with a deeper and broader array of end-to-end support to enable digital transformation. Embedded software engineering is a fast-growing segment of the IoT and engineering market.
Mobica's expertise in three key areas – connected devices and digital transformation, silicon and technology platforms, and automotive and intelligent mobility – is expected to further strengthen Cognizant's client offerings and position as a strategic partner in enterprise digital transformation.
Upon closing of the acquisition, Cognizant will add nearly 900 people across Europe and North America, including approximately 550 engineers in Poland. Upon acquiring Mobica, Cognizant will have more than 7,500 associates in Eastern Europe, including approximately 4,500 engineers.
The acquisition is expected to close in February 2023, subject to satisfaction of closing conditions. Financial details were not disclosed.