IT services provider Cognizant has bulked up its software development capacity and capability after striking a deal to acquire Magenic Technologies.
Headquartered in the US, Magenic is a digital technology consulting firm that provides agile software and cloud development, DevOps, experience design, and advisory services to clients globally.
The company has made a name for itself building custom solutions for Fortune 500 clients, among others, including re-architecting and migrating products to the cloud, building customer-facing web apps, creating APIs, and designing secure payment processing systems.
The deal sees Cognizant expand its software product engineering footprint, netting over 350 employees from Magenic's Philippines base in Manila, along with roughly 475 from its several offices scattered throughout the United States.
With Magenic on board, Cognizant Softvision will effectively double its number of development sites in the US while adding the Philippines to its broader global network of existing studios in Argentina, Australia, Canada, India, Mexico, and Romania.
Upon completion of the acquisition, which is expected to close in the first quarter of 2021, Magenic employees will become part of Cognizant Softvision, connecting Magenic's expertise with Cognizant's global software development capabilities.
"Magenic has exceptional software development and cloud modernisation teams that will enhance our global engineering talent network and expertise," Cognizant digital business and technology president Malcolm Frank said.
"We continue to invest in digital engineering, a key priority as clients move from traditional application development to custom software to provide compelling customer experiences and differentiated productivity solutions. We look forward to welcoming Magenic's experts to Cognizant," he added.
The Magenic buy represents Cognizant's third acquisition in the few short weeks since the year began.
On 11 January, the company revealed it would acquire Sydney-based data analytics consultancy firm Servian in a move set to expand its capabilities in the Australian and New Zealand region.
Acquired for an unknown sum, the acquisition of the data analytics consultancy firm marked the 10th for Cognizant since January 2020 and is part of its strategy to increase its expertise of data and artificial intelligence, digital engineering, cloud and internet of things (IoT) worldwide.
Servian's entire workforce, consisting of more than 500 technology and consulting professionals based primarily in Australia and New Zealand, will join the multinational, doubling its cloud and data team in A/NZ in the process.