Cognizant acquires Magenic Tech

Chennai: Cognizant Technology Solutions has acquired Magenic Technologies, a privately-held custom software development services company headquartered in Minneapolis, Minnesota for an undisclosed sum.

Magenic is Cognizant’s third acquisition in 2021. This will expand key strategic focus areas — digital engineering, data and artificial intelligence, cloud, and the Internet of Things

Upon completion of the acquisition, Magenic associates will become part of Cognizant Softvision. The acquisition is expected to expand Cognizant’s product engineering capabilities, adding 475 employees in the US across seven locations and more than 350 employees in Manila, Philippines, a Cognizant statement said.