Nasdaq-listed technology consulting group Cognizant expects to conclude its acquisition of UK-based Mobica next month, expanding its internet-of-things embedded software engineering capability in Europe.
Cognizant said Manchester-headquartered Mobica had nearly 900 employees across Europe and North America, including some 550 engineers in Poland. It said embedded software engineering was a fast-growing segment of the IoT and engineering market, with researcher IDC forecasting global product engineering spending to increase from US$83 billion in 2021 to $164 billion by 2026.
“Mobica’s strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant’s Global 2000 client base and key industries, while its large presence in Poland significantly enhances our growing development teams in eastern Europe,” said Cognizant core technologies and insights vice president, Annadurai Elango.
“We believe combining Mobica’s expertise with Cognizant’s strong IoT and product engineering capabilities will result in enhanced digital transformation outcomes for global clients in the technology and automotive industries and beyond.”
Cognizant did not disclose financial details of the transaction.