The acquisition of Austin, Texas-based Softvision, Coginzant said, will allow it to create a top digital engineering company and become a leader in software product development.
“By joining forces with Cognizant, we can combine our unique engineering, design and digital product development approach with Cognizant’s scale and digital expertise in areas like artificial intelligence, virtual reality, IoT, human science and others to provide even more innovative solutions and impactful experiences,” Andres Angelani, Softvision’s CEO, said.
“This is an exciting next step in our evolution started 20 years ago in Romania servicing cutting-edge technology companies and scaling to work with the world’s top brands,” Laurentiu Russo, Softvision founder and chief technology officer, said.
“Innovation and speed to market are paramount for our clients,” Gajen Kandiah, president, Cognizant Digital Business. “Softvision’s unique culture, talented people, and agile model of small, multidisciplinary client teams, fits well with Cognizant’s collaborative approach of innovating with clients to tackle complex, mission-critical business initiatives.”
The deal is expected to close in the fourth quarter of 2018. Financial terms were not disclosed.