Multinational IT services provider Cognizant has announced that it will acquire Ireland-based life sciences firm Zenith Technologies for an undisclosed amount.
The company has been on an acquisition spree over the past 15 months, with Zenith being the ninth buy since March 2018. It is also the first acquisition by Cognizant since Brian Humphries took over as CEO on 1 April 2019 and the third by the firm this year.
The company had previously acquired Irish fintech firm Meritsoft in March and Finnish IT solutions provider Oy Samlink in January.
Zenith Technologies works in the space of implementing digital technologies to manage, control and optimise drug and medical device production aimed at better regulatory compliances and operational efficiencies.
Cognizant said that the acquisition would extend the company’s capabilities in designing, managing and implementing end-to-end operational and IT systems for connected biopharmaceutical and medical device manufacturers.
By combining the capabilities of Cognizant and Zenith Technologies, the former said they would be able to deliver latest Industry 4.0 capabilities to its customers, such as factory design consultation, supervisory control, machine sensor and controller instrumentation and data acquisition.
The release also stated that the proximity of Zenith Technologies’ operating hubs to the manufacturing facilities of Cognizant’s clients would work in favour of the acquiring firm’s interests.
Zenith Technologies, founded in 1996, has operating hubs in Ireland, Germany, India, Singapore, the US and many other sites around the globe. Cognizant said that the acquisition would further bolster their leadership in life sciences.
“Industry 4.0 solutions, encompassing Internet of Things (IoT), automation and analytics, are a strategic focus area for Cognizant,” said Humphries.
Humphries also pointed out that the acquisition would help expand Cognizant’s IoT portfolio and extend its reach in life sciences to become a single-source provider of end-to-end smart factory capabilities.
“Together, we are better positioned to help clients realise information and operational technology convergence in their manufacturing operations, and advance the development of life-saving drugs, biologics, specialised pharmaceuticals and medical devices,” pointed out Humphries.
Joe Haugh, chief executive of Zenith Technologies, said the partnership would help in driving process excellence through tighter integration of manufacturing processes as well as efficiently harnessing information and analytics across the manufacturing value chain.
The transaction is expected to close in the third quarter of 2019, subject to closing conditions, including regulatory review.