Nasdaq-listed Cognizant Technology Solutions Corp. on Tuesday said it has entered into an agreement to acquire US-based New Signature, one of the largest independent Microsoft public cloud transformation specialists.
This will be Cognizant’s fifth cloud-related acquisition in 2020 as 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.
The transaction is expected to close in the third quarter of 2020. Financial details were not disclosed.
“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,” Cognizant said in a statement.
Post completion of the acquisition, New Signature’s more than 500 cloud experts, based primarily in the U.S., U.K., and Canada, will join Cognizant’s newly-formed Microsoft business group.
“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,” said Greg Hyttenrauch, president, Cognizant Digital Systems and Technology. “Acquiring New Signature will enrich our cloud-first capabilities and complement our increasing strengths as a Microsoft partner.”
New Signature’s global client portfolio includes businesses across a range of industries, as well as government and non-profit institutions. Engagements have included 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.
