Cognizant has reached an agreement to acquire Mobica, a provider of IoT software development services headquartered in Manchester, UK. Mobica’s services span the entire software development cycle, with core competencies in the development, implementation, testing, and deployment of embedded software and a specialization in clients’ strategic in-house research and development projects.
The acquisition significantly expands Cognizant’s IoT-embedded software engineering capabilities, providing customers with a deeper and broader spectrum of end-to-end support to enable digital transformation. Embedded software engineering is a rapidly growing segment of the IoT and engineering market. Market research firm IDC forecasts that global product development spending will grow from $83 billion in 2021 to $164 billion by 2026.1
Upon completion of the acquisition, Cognizant will hire nearly 900 employees across Europe and North America, including approximately 550 engineers in Poland.
“Mobica’s strong track record of delivering strategic embedded software engineering services is well aligned with Cognizant’s Global 2000 customer base and key industries, while its large footprint in Poland significantly strengthens our growing development teams in Eastern Europe,” said Annadurai Elango, Executive Vice President of Core technologies and insights from Cognizant. “We believe that combining Mobica’s expertise with Cognizant’s strong IoT and product development capabilities will result in enhanced digital transformation outcomes for global clients in technology and automotive industries and beyond.”
Mobica’s expertise in three key areas — connected devices and digital transformation, silicon and technology platforms, and automotive and smart mobility — is expected to further strengthen Cognizant’s customer offering and position as a strategic partner in enterprise digital transformation.
“Mobica has built a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud,” said Sam Kingston, CEO of Mobica. “The alignment we share with Cognizant in terms of technology, industry and customer centricity provides a strong platform for continued growth in Europe and North America and an opportunity for our talented team to expand their skills and careers.”
Mobica builds on Cognizant’s previous efforts to build strategic capabilities in Eastern Europe through its 2018 acquisitions of Softvision and 2021 Devbridge, which have significant software product development operations in Romania and Lithuania, respectively. After the Mobica acquisition, Cognizant will have more than 7,500 employees in Eastern Europe, including approximately 4,500 engineers.
