Global IT consulting firm Cognizant has acquired AustinCSI, a cloud and data analytics consulting firm. Financial terms of the deal were not disclosed.
This is technology M&A deal number 1,006 that ChannelE2E has covered so far in 2022.
Cognizant Acquires Data and Application Migration Consultancy
AustinCSI, founded in 2007, is based in Plano, Texas. The company has more than 165 consultants. AustinCI specializes in data enablement, business process automation and application migration services.
Cognizant is based in Teaneck, New Jersey. The company has 317,288 employees listed on LinkedIn. Cognizant’s areas of expertise include interactive, intelligent process automation, digital engineering, industry & platform solutions, Internet of things, artificial intelligence, cloud, data, healthcare, banking, finance, FinTech, manufacturing, retail, technology and Salesforce applications.
AustinCSI's enterprise cloud and data analytics expertise aligns with four key Cognizant investment areas: Data and artificial intelligence, cloud, digital engineering, and Internet of Things (IoT).
Cognizant Buys AustinCSI: Executive Perspectives
In a prepared statement about the deal, Michael Valocchi, senior VP, head of Cognizant Consulting and Americas Strategy, said:
"Client demand for end-to-end digital strategy and industry-specific solutions continues to accelerate. AustinCSI has built a stellar reputation by improving business outcomes for some of the world's most recognizable brands, particularly in the telecommunications, media, technology and automotive sectors, markets where Cognizant is also strong. We look forward to welcoming AustinCSI's talented experts to our team and further enriching the value we're providing to our clients as they embrace cloud, AI, data analytics, and other advancing technologies."
Added Karen Moree, CEO and co-founder of AustinCSI:
"We're excited by the opportunity to become part of Cognizant and combine our strengths in delivering advanced and transformative technologies to clients. Together, we can provide more impact for our current clients with broader capabilities in emerging digital technologies and reach a wider market leveraging Cognizant's global scale."
The deal is expected to close before January 2022.
