New York: Information technology company Cognizant on said it has entered into an agreement to acquire Chicago-based 10th Magnitude, a Cloud specialist focused exclusively on the Microsoft Azure platform.
Financial details of the deal were not disclosed. The acquisition will expand the Microsoft Azure expertise within Cognizant’s new Microsoft Business Group, adding development and managed services hubs in major cities throughout the US. This will be Cognizant’s sixth Cloud-related acquisition in 2020.
10th Magnitude offers advisory and managed services, including data centre transformation, application modernisation, and data intelligence with AI-driven analytics and insights.
Modernising business platforms by shifting to the Cloud is a key priority for our clients, Greg Hyttenrauch, President, Cognizant Digital Systems and Technology, said in a statement.
The acquisition of 10th Magnitude underscores our commitment to Microsoft, one of our leading strategic partners, and will further strengthen our ability to provide Azure expertise to our clients as they embrace the Cloud.
Upon the close of the acquisition, 10th Magnitude’s Azure experts will join Cognizant as part of Microsoft Business Group.
The transaction is expected to close in the third quarter of 2020, subject to the satisfaction of closing conditions, including regulatory clearance.