Cognizant has completed the previously announced acquisition of Magenic Technologies, a privately-held custom software development services company headquartered in Minneapolis, Minnesota.
The acquisition expands Cognizant’s software product engineering footprint, adding 475 employees in the U.S. across seven locations, and more than 350 employees in Manila, Philippines.
Working across a range of industries, Magenic provides software and cloud development, DevOps, experience design, and advisory services. Custom solutions for Fortune 500 clients and others include re-architecting and migrating products to the cloud, building customer-facing web apps, creating APIs, and designing secure payment processing systems.
Magenic is Cognizant’s third acquisition in 2021, and the 12th announced since January 2020, to expand in key strategic focus areas: digital engineering, data and artificial intelligence, cloud, and the Internet of Things.
“Magenic has exceptional software development and cloud modernization teams that will enhance our global engineering talent network and expertise,” said Malcolm Frank, President, Digital Business and Technology, Cognizant. “We continue to invest in digital engineering, a key priority as clients move from traditional application development to custom software to provide compelling customer experiences and differentiated productivity solutions. We look forward to welcoming Magenic’s experts to Cognizant.”
“We have been solving complex business and technological challenges with agility and speed for over 25 years, and Magenic today continues to create highly innovative software solutions in the cloud,” said Greg Frankenfield, Co-Founder and Chief Executive Officer, Magenic. “We look forward to joining Cognizant Softvision and connecting to Cognizant’s broader range of digital expertise for the benefit of our clients.”
Cognizant is a professional services company, transforming clients’ business, operating and technology models for the digital era. Headquartered in the U.S., Cognizant is ranked 194 on the Fortune 500.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.