Cognizant Technology Solutions will acquire Chicago-based 10th Magnitude, a Cloud specialist focused exclusively on the Microsoft Azure cloud computing platform, for an undisclosed amount.
The acquisition will mark Cognizant’s sixth Cloud-related transaction to date this year (seventh acquisition overall this year), highlighting its continued execution and acceleration of its cloud strategy, says a Cognizant press release.
10th Magnitude is one of Microsoft’s longest-standing Azure partners, providing advisory and managed services for Fortune 500 and other leading brands across industries.
Upon the close of the acquisition, 10th Magnitude’s Azure experts will join Cognizant’s new Microsoft Business Group (announced last month), adding development and managed services hubs in the US.
The transaction is expected to close in the third quarter of 2020, subject to the satisfaction of closing conditions, including regulatory clearance, says the release.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.