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India: Cognizant to acquire Magenic Tech in third buyout this year


India: Cognizant to acquire Magenic Tech in third buyout this year
Photo: Pramugdha Mamgain/DealStreetAsia
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Cognizant Technology Solutions Corp. on Tuesday said it has entered into an agreement to acquire Magenic Technologies, Inc., a privately-held custom software development services company headquartered in Minneapolis, Minnesota.
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Cognizant to acquire Magenic Technologies in third buyout this year


Cognizant to acquire Magenic Technologies in third buyout this year
The acquisition will expand Cognizant’s software product engineering footprintPremium
1 min read
Upon completion of the acquisition, Magenic employees will become part of Cognizant Softvision, adding 475 employees in the US and more than 350 employees in Manila, Philippines
The transaction is expected to close in the first quarter of 2021 and financial details were not disclosed
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Cognizant Technology Solutions Corp. on Tuesday said it has entered into an agreement to acquire Magenic Technologies, Inc., a privately-held custom software development services company headquartered in Minneapolis, Minnesota.
Upon completion of the acquisition, Magenic employees will become part of Cognizant Softvision, adding 475 employees in the US and more than 350 employees in Manila, Philippines. Cognizant acquired Texas-based Softvision in 2018. ....

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Cognizant to Acquire Magenic Technologies, Strengthening Digital Engineering Capabilities


Cognizant to Acquire Magenic Technologies, Strengthening Digital Engineering Capabilities
Acquisition will broaden Cognizant s global software product engineering network, adding hundreds of engineers in the U.S. and Philippines
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TEANECK, N.J., Jan. 19, 2021 /PRNewswire/  Cognizant (Nasdaq: CTSH) has entered into an agreement to acquire Magenic Technologies, Inc., a privately-held custom software development services company headquartered in Minneapolis, Minnesota. The acquisition will expand Cognizant s software product engineering footprint, adding 475 employees in the U.S. across seven locations and more than 350 employees in Manila, Philippines. Upon completion of the acquisition, Magenic associates will become part of Cognizant Softvision, connecting Magenic s expertise with Cognizant s global software development capabilities. ....

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