Cognizant acquires digital automotive firm ESG Mobility
IT services provider Cognizant said Thursday that it's acquiring ESG Mobility as part of efforts to expand the company's automotive engineering expertise.
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Based in Munich, Germany, ESG's services span the automotive software stack, but the company said its strengths are in electronic systems and connected vehicle applications, as well as capabilities for autonomous and electric vehicles.
When the deal closes, Cognizant will add around 1,000 engineering R&D specialists to its IoT and Engineering Services Practice.
"We have built a world-class team of engineering R&D and technology consultants who deeply understand our automotive clients in Germany and around the world," said Jörg Ohlsen, ESG Mobility's CEO. "By joining Cognizant, we can provide a higher quality of service, build more innovative products and support a broader range of digital initiatives for our current and future customers."
ESG Mobility is Cognizant's 13th tech-focused acquisition announced since January 2020. Since September, the company has announced deals to buy Australian consultancy firm Servian and AI and machine learning focused Inawisdom, and completed its acquisition of Tin Roof Software, Microsoft Azure specialists 10th Magnitude, and industrial IoT firm Bright Wolf.
The financial terms of the deal were not disclosed, but the transaction is expected to close in the second quarter of 2021.