TEANECK, N.J., July 28, 2020 /PRNewswire/ --
Cognizant (Nasdaq: CTSH) today announced it has entered into
an agreement to acquire New Signature, one of the world's largest
independent Microsoft public cloud transformation specialists. The
transaction is expected to close in the third quarter of 2020,
subject to regulatory clearance and other closing conditions.
Financial details were not disclosed.
The acquisition of New Signature expands Cognizant's hyperscale
cloud advisory services, and will provide the foundation for a new,
dedicated group within Cognizant centered on Microsoft cloud
solutions. New Signature, an award-winning Microsoft Partner, is
exclusively focused on Microsoft technologies, with an integrated
offering across all three of Microsoft's business clouds: Azure,
Microsoft 365, and Dynamics 365. Upon the close of the acquisition,
New Signature's more than 500 cloud experts, based primarily in the
U.S., U.K., and Canada, will join
Cognizant's newly-formed Microsoft Business Group.
"The pace of cloud adoption continues to accelerate across
industries, with Microsoft's cloud solutions among the preferred
technologies to help transform and strengthen businesses," said
Greg Hyttenrauch, President,
Cognizant Digital Systems and Technology. "Acquiring New Signature
will enrich our cloud-first capabilities and complement our
increasing strengths as a Microsoft partner. We look forward to
welcoming New Signature into the Cognizant family."
"New Signature's success is built upon helping clients create
and accelerate their business transformation through the adoption
of Microsoft cloud technologies," said Jeff
Tench, Chief Executive Officer, New Signature. "In joining
Cognizant, we will have access to Cognizant's deep industry
expertise and global scale, and together, provide best-in-class
cloud solutions for the intelligent workplace, applied innovation,
and managed services. We share a passion for innovation and look
forward to our future at the heart of Cognizant's new Microsoft
Business Group."
New Signature's global client portfolio includes businesses
across a broad range of industries, as well as government and
non-profit institutions. Engagements have included a cloud
migration for Virgin Atlantic Airways, an IoT solution for The
Hershey Company, and a solution to map all public defibrillators in
the U.K. for the National Health Service (NHS) and the British
Heart Foundation.
New Signature will be Cognizant's fifth cloud-related
acquisition in 2020. Cloud is an area of strategic focus and
continued investment for Cognizant as it expands capabilities to
help clients become fully digital, data-enabled, customer-centric
businesses. Underscoring its success in accelerating and
executing on its cloud strategy, Cognizant was recently named a
Leader in Gartner's 2020 Magic Quadrant for Public Cloud
Infrastructure Professional and Managed Services, Worldwide.
Additionally, Cognizant was recognized this month as a 2020
Microsoft Partner of the Year in three categories: SAP
on Azure, Government, and U.S. Partner for Modern Workplace – Apps
& Solutions for Microsoft Teams.
"The New Signature acquisition will enhance Cognizant's ability
to partner with customers across industries and geographies on
their cloud strategy and business transformation," said
Judson Althoff, Executive Vice
President of Microsoft's Worldwide Commercial Business. "We
look forward to building on our long-standing partnership with
Cognizant, especially with the coming launch of Cognizant's new
Microsoft Business Group."
New Signature is one of 70 certified Azure Expert Managed
Service Providers worldwide and has 16 Gold Microsoft
Competencies or specializations. New Signature has received
numerous Microsoft recognitions, including the 2019 Microsoft U.K.
Partner of the Year award, 2018 Microsoft IMPACT Canada award, and
2015 and 2014 Microsoft U.S. Partner of the Year awards. New
Signature was also recognized in 2019, for the eighth consecutive
year, as one of the Inc. 5000 Fastest Growing Companies.
Learn More
- New Signature website
- Cognizant website
About New Signature
Founded in 2003, New Signature is headquartered in the U.S.,
with operations in Canada, the
U.K., and South Africa. New
Signature is a cloud-first, full-service Microsoft partner
committed to delivering innovative technology solutions that solve
human challenges. Our team is full of curious and innovative
thought leaders who are dedicated to providing outstanding customer
experiences and building authentic relationships. We are compelled
by our core values to drive transformational results for clients
across all company sizes, geographies, and industries. The New
Signature team delivers full lifecycle solutions—from project
inception and planning through deployment to ongoing support and
maintenance.
About Cognizant
Cognizant (Nasdaq-100: CTSH) is one of the world's leading
professional services companies, transforming clients' business,
operating and technology models for the digital era. Our unique
industry-based, consultative approach helps clients envision, build
and run more innovative and efficient businesses. Headquartered in
the U.S., Cognizant is ranked 194 on the Fortune 500 and is
consistently listed among the most admired companies in the world.
Learn how Cognizant helps clients lead with digital at
www.cognizant.com or follow us @Cognizant.
Forward-Looking Statements
This press release includes statements which may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
the accuracy of which are necessarily subject to risks,
uncertainties, and assumptions as to future events that may not
prove to be accurate. These statements include, but are not limited
to, express or implied forward-looking statements relating to our
expectations regarding the anticipated acquisition of New Signature
and potential impacts of such an acquisition on the business and
prospects of Cognizant and New Signature. These statements are
neither promises nor guarantees, but are subject to a variety of
risks and uncertainties, many of which are beyond our control,
which could cause actual results to differ materially from those
contemplated in these forward-looking statements. Existing and
prospective investors are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. Factors that could cause actual results to differ
materially from those expressed or implied include general economic
conditions, the impact of the COVID-19 pandemic, changes in the
regulatory environment, including with respect to immigration and
taxes, and the other factors discussed in our most recent Annual
Report on Form 10-K and other filings with the Securities and
Exchange Commission. Cognizant undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, future events, or otherwise, except as may be
required under applicable securities law.
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SOURCE Cognizant