Cognizant to acquire Chicago-based cloud specialist firm 10th Magnitude
Cognizant announced that it has entered into an agreement to acquire Chicago-based 10th Magnitude, a leading cloud specialist focused exclusively on the Microsoft Azure cloud computing platform. The acquisition will expand the Microsoft Azure expertise within Cognizant’s new Microsoft Business Group, adding development and managed services hubs in major cities throughout the U.S. 10th Magnitude will be Cognizant’s sixth cloud-related acquisition in 2020, highlighting Cognizant’s continued acceleration and execution of its cloud strategy.
“10th Magnitude, one of Microsoft’s longest-standing Azure-centric partners, offers advisory and managed services, including data center transformation, application modernization, and data intelligence with AI-driven analytics and insights.”
10th Magnitude’s solutions and experts enable efficient, secure cloud transformations for Fortune 500 and other leading brands across industries ranging from healthcare and financial services to consumer goods and aerospace.
“Modernizing business platforms by shifting to the cloud is a key priority for our clients,” said Greg Hyttenrauch, President, Cognizant Digital Systems, and Technology. “The acquisition of 10th Magnitude underscores our commitment to Microsoft, one of our leading strategic partners, and will further strengthen our ability to provide Azure expertise to our clients as they embrace the cloud. We are excited to unlock the power of this acquisition and to welcome 10th Magnitude’s outstanding team to Cognizant.”
“Hyperscale cloud infrastructures are enabling organizations to be more agile and improve their business performance to better serve customers. The ability to pivot, innovate, remain flexible, and resilient, with remote access to key applications, is especially important in these uncertain times,” said Alex Brown, Chief Executive Officer, 10th Magnitude. “Our award-winning Azure experts have been helping organizations to securely move to and grow within the cloud for more than a decade. With Cognizant, we will be able to offer greater scope and scale to help our clients use an open and highly-adaptable cloud computing platform to compete more effectively.”
Upon the close of the acquisition, 10th Magnitude’s Azure experts will join Cognizant as part of the Microsoft Business Group. The transaction is expected to close in the third quarter of 2020, subject to the satisfaction of closing conditions, including regulatory clearance.
Financial details were not disclosed.