Cognizant Technology Solutions has expanded its global digital engineering portfolio with the acquisition of Devbridge, a privately-held software consultancy and product development company headquartered in the US.
The acquisition will expand Cognizant's software product engineering capabilities and global delivery footprint by adding more than 600 engineers, designers and product managers in Lithuania, Poland, US, UK and Canada, said a company press release.
Upon completion of the acquisition, Devbridge employees will become part of Cognizant Softvision, which develops custom digital products and has studios across the world in the US, Romania, India, Philippines, Argentina, Ukraine, Canada and Mexico.
The transaction is expected to close before the end of 2021. Financial details were not disclosed.
Investments
Since 2019, Cognizant has invested more than $2.5 billion in acquisitions that expand its offerings in digital engineering, data and artificial intelligence, cloud, and the Internet of Things, to provide clients with the capabilities to compete as modern digital businesses.
Devbridge's cross-functional team of software product engineering professionals uses collaborative techniques and proprietary tools to deliver product design and development, service design, software engineering maturity, data strategy, and legacy modernisation for their clients in financial services, healthcare, hospitality, logistics, and manufacturing, the release said.