Cognizant has entered into an agreement to acquire Mobica, an IoT software engineering services provider headquartered in Manchester, UK. The acquisition is expected to close in February 2023.
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; market intelligence firm IDC forecasts global product engineering spending to increase from $83bn in 2021 to $164bn by 2026.
Annadurai Elango, executive vice president of Cognizant Core Technologies and Insights, said: “Mobica’s strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant’s Global 2000 client base and key industries, while its large presence in Poland significantly enhances our growing development teams in Eastern Europe.
“We believe combining Mobica’s expertise with Cognizant’s strong IoT and product engineering capabilities will result in enhanced digital transformation outcomes for global clients in the technology and automotive industries and beyond.”
Sam Kingston, CEO of Mobica, said: “Mobica has built a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud.
“The alignment we share with Cognizant from a technology, industry and client-focus standpoint represents a strong platform for continued growth in Europe and North America, and an opportunity for our talented team to grow their skills and careers.”
