Cognizant continues M&A spree with deal for Azure expert
Services giant Cognizant snaps up sixth cloudy acquisition this year with 10th Magnitude
Cognizant has snapped up Azure specialist 10th Magnitude, marking its sixth cloud acquisition so far this year.
The latest addition will expand the Azure expertise in Cognizant's new Microsoft Business Group - which houses its other recent acquisition, New Signature - as well as adding managed services hubs throughout the US.
Chicago-based 10th Magnitude is a Microsoft Gold Partner that offers managed services, including datacentre transformation, application modernisation and data intelligence.
"Modernising business platforms by shifting to the cloud is a key priority for our clients," said Greg Hyttenrauch, president of Cognizant Digital Systems and Technology.
"The acquisition of 10th Magnitude underscores our commitment to Microsoft, one of our leading strategic partners, and will further strengthen our ability to provide Azure expertise to our clients as they embrace the cloud. We are excited to unlock the power of this acquisition and to welcome 10th Magnitude's outstanding team to Cognizant."
Alex Brown, CEO of 10th Magnitude, added: "Hyperscale cloud infrastructures are enabling organisations to be more agile and improve their business performance to better serve customers. The ability to pivot, innovate, remain flexible and resilient, with remote access to key applications, is especially important in these uncertain times.
"Our award-winning Azure experts have been helping organisations to securely move to and grow within the cloud for more than a decade. With Cognizant, we will be able to offer greater scope and scale to help our clients use an open and highly-adaptable cloud computing platform to compete more effectively."
The deal is expected to close in the third quarter of 2020. Financial terms were not disclosed.
Dan Scarfe, founder of recently-acquired New Signature UK, welcomed the news.
"I've known Alex Brown for many years and always held him in the highest regard," he wrote in a LinkedIn post.
"10th Magnitude was the yardstick all of us were measured against. I am thrilled at the opportunity to finally get to work with him and his team."