TEANECK, N.J., Dec. 11, 2018 /PRNewswire/ --
Cognizant (Nasdaq: CTSH) today announced it is acquiring
Mustache, a privately-held creative content agency based in
Brooklyn, NY, known for
its innovative approach to planning, producing and
distributing compelling video content and programming. The
transaction is expected to close in the first quarter of
2019 subject to satisfaction of certain closing conditions.
Financial details were not disclosed.
Founded in 2010, Mustache specializes in creating award-winning
original and branded content for digital, broadcast and social
mediums, all increasingly important for marketers. An
April 2018 study by the
Interactive Advertising Bureau (IAB) shows that nearly 60 percent
of marketers' digital ad budgets today are allocated to
video alone, and spending continues to rise.
Mustache's capabilities extend across the content creation
continuum, from developing concepts through to production,
post-production, and distribution services. Mustache's TV business
unit is widely recognized for its expertise in long format video
development, including the "Most Expensivest" reality series
created for Viceland. The agency is also recognized for its
integrated campaigns across a range of industries, including
tech, tourism, beauty and television marketing. Mustache's
clients include leading edge brands such as: A&E Networks,
Brand USA, Google, Grammarly,
L'Oréal, Netflix, and Viceland.
Upon the close of the acquisition, Mustache's team of content
experts -- including creative directors, strategists, art
directors, writers, producers, animators, graphic designers, video
editors, and post production specialists -- will become part of
Cognizant Interactive, ranked in April
2018 by Ad Age as #1 digital agency network in the United States and #3 digital agency in the
world.
"CMOs are looking for a single-source, at-scale provider to help
them with the capabilities they need to win in the experience
economy," said Donna Tuths, Senior
Vice President and Global Head of Cognizant Interactive. "Creating
engaging content remains a singular challenge due to the demands of
'always on' social media channels – especially when it
comes to video. With the addition of Mustache, Cognizant
Interactive is even better positioned to fill this need."
Tuths added, "We look forward to welcoming the Mustache team to
Cognizant Interactive. These highly-skilled content specialists and
the rich expertise they bring will set us apart in our ability to
provide a complete range of digital content services, particularly
long format video, which we know is increasingly driving consumer
engagement and purchase decisions."
"Mustache was born of the conviction that brands need to connect
and engage with their customers more authentically, and the
best way to do that is through honest, compelling, and provocative
content," said John Limotte,
Founder, Chief Executive Officer, and Executive Creative Director,
Mustache. "By joining forces with Cognizant, we can leverage their
deep resources and geographic reach to scale our capabilities more
quickly and effectively to provide clients with more comprehensive
solutions — marrying our content and creative
with their cutting-edge technology and analytics to
create a powerful, forward-looking, full-service model. We are
particularly drawn to the global agency network developed under
Cognizant Interactive, and the leading position they've taken on
applied innovation and on solving clients' challenges with what
they call a 'human-centered' approach. We look forward to combining
our strengths with Cognizant to deliver great results for
clients."
Learn More:
https://www.cognizant.com/cognizant-digital-business/interactive-services
https://www.mustacheagency.com/
About Mustache
Mustache is content — Scripted,
Unscripted, Live Action, Animation, Short Form, Long Form, TV, Social Media, Commercial, Branded
Content and beyond. Founded in 2010 and headquartered in
Brooklyn, NY, Mustache is staffed
with a passionate and diverse collection of multi-hyphenate
creators and doers, Mustache is uniquely calibrated to craft
soup-to-nuts, visually-stunning, imaginative, thoughtful, hilarious
content and campaigns for any platform. Born of an instinct to buck
tradition and institutional bloat, Mustache's energized team is
designed to contend with the biggest dinosaurs in the advertising,
digital and entertainment industries. Learn more about
Mustache at www.MustacheAgency.com.
About Cognizant Interactive
From creation to
commerce, Cognizant Interactive helps clients envision and operate
tomorrow's products and services today. Through connected offerings
in foresight experience design, marketing, content and commerce, we
run some of the largest digital support services of their kind.
Industry-focused and specializing in applied innovation, our
solutions are platform-enabled, AI-driven, and inspired by human
insight. Our bespoke services, leveraging an international network
of digital experts across 52 offices, allow us to deliver boutique
service at global scale.
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 195 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 the anticipated closing of the acquisition
of Mustache by Cognizant and expectations regarding the impact of
such acquisition on the business and prospects of Cognizant and
Mustache. 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, 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