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Cognizant announced it has entered into a definitive agreement to acquire Softvision, LLC, a privately-held digital engineering and consulting company focused on agile development of innovative software solutions and platforms. The transaction is expected to close in the fourth quarter of 2018 subject to the satisfaction of the closing conditions, including regulatory review. Terms are not being disclosed.
Softvision is a leader in developing custom digital products using unique collaborative engineering methods. The combination of capabilities from Softvision and Cognizant reportedly creates one of the top digital engineering companies in the world and a leader in software product development, helping clients innovate at speed and execute at scale.
Founded more than 20 years ago in Silicon Valley, Austin, Texas-based Softvision works with Fortune 500 clients in financial services, retail, consumer products, healthcare and other industries. Softvision's agile delivery teams, called pods, combine a global network of design, technical and engineering experts, working collaboratively in studios, to help clients create digital consumer products and scalable digital platforms. With a significant presence in the digital engineering hub of Romania, Softvision's network includes over 2,850 creative technologists. Cognizant plans to continue use of the Softvision brand following the acquisition.