United States-based IT services provider Cognizant has announced its intentions to wholly acquire Servian, an Australian consultancy firm specialising in "transformation" services, specifically across data analytics, artificial intelligence (AI), digital services, experience design, and cloud.
The multinational said the acquisition will help bolster the company's presence in Australia and New Zealand, with a focus on data and AI, digital engineering, cloud, and Internet of Things (IoT).
Cognizant employs around 1,200 people in Australia, covering clients such as banks, insurers, retailers, and communications companies.
Servian, meanwhile, has 500 technology and consulting staff in the region.
"Cognizant's extensive digital expertise combined with Servian's strengths … will open up the full power of digital transformation for our Australasian clients. We look forward to welcoming Servian's talented digital-native professionals to Cognizant," Cognizant Australia and New Zealand CEO Jane Livesey said in a statement.
Servian CEO and founder Tony Nicol echoed similar sentiments to Livesey, adding his company "shares Cognizant's passion for innovation powered by digital technologies".
The financial terms of the deal were not disclosed, but the transaction is expected to close in the first quarter of 2021, subject to regulatory clearance and other closing conditions.
Servian is Cognizant's 10th tech-focused acquisition announced since January 2020. Since September, the company has announced adding AI and machine learning focused Inawisdom to the fold and completed its acquisition of Tin Roof Software, Microsoft Azure specialists 10th Magnitude, and industrial IoT firm Bright Wolf.