COGNIZANT TO ACQUIRE LARGEST CLOUD TRANSFORMATION SPECIALISTS; COMPANY'S 5TH CLOUD-RELATED ACQUISITION IN 2020- REPORT!

Multinational IT services provider Cognizant Technology Solutions Corp. has entered into an agreement to acquire US-based New Signature, which is one of the largest independent Microsoft public cloud transformation specialists.

Looking into cloud-related acquisition, this will be Cognizant’s fifth agreement in 2020. This deal was made because cloud is an area of strategic focus for Cognizant as it expands capabilities to help clients become digital, data-enabled, and build customer-centric businesses. 

As per an Economic Times report, the transaction is expected to close in the third quarter of 2020. Also, no financial details have been disclosed yet. After completion of the acquisition, New Signature’s more than 500 cloud experts, is based in the U.S., U.K., and Canada. They will then join Cognizant’s newly-formed Microsoft business group.  

Meanwhile, in a statement, Cognizant said “The acquisition of New Signature expands Cognizant’s hyperscale cloud advisory services, and will provide the foundation for a new, dedicated group within Cognizant centred on Microsoft cloud solutions."

“The pace of cloud adoption continues to accelerate across industries, with Microsoft’s cloud solutions among the preferred technologies to help transform and strengthen businesses. Acquiring New Signature will enrich our cloud-first capabilities and complement our increasing strengths as a Microsoft partner," said Greg Hyttenrauch, president, Cognizant Digital Systems and Technology.

Highlighting about the New Signature’s global client portfolio- it includes businesses across a range of industries, as well as government and non-profit institutions. 

Currently, they have been engagements which includes a cloud migration for Virgin Atlantic Airways, an IoT solution for The Hershey Company, and a solution to map all public defibrillators in the U.K. for the National Health Service (NHS) and the British Heart Foundation, ET further reports.