IT (information technology) services giant Cognizant said it has entered into an agreement to acquire New Signature, A Washington DC based independent Microsoft public cloud transformation provider.
The transaction is expected to be complete in the third quarter of 2020, subject to regulatory clearance.
Founded in 2003, New Signature is a provider of intelligent workplace and intelligent cloud solutions based on Microsoft’s public cloud. The company is focused on Azure, Microsoft 365 and Dynamics 365 (an enterprise resource planning solution) based offerings. The company is one of 70 certified Azure Expert Managed Service Providers worldwide.
This is the company’s fifth cloud-based acquisition in 2020. Teaneck, New Jersey headquartered Cognizant’s other cloud acquisitions include US-based companies such as Collaborative Solutions, Code Zero, Lev, and EI-Technologies.
"Acquiring New Signature will enrich our cloud-first capabilities and complement our increasing strengths as a Microsoft partner,” Greg Hyttenrauch, President, Cognizant Digital Systems and Technology said in a statement.
New Signature is expected to expand Cognizant’s hyperscale cloud advisory services and will provide the foundation for a new dedicated group within Cognizant which will be centred on Microsoft cloud solutions.
Upon the closure of the deal, close to 500 of New Signature’s employees from the US, UK and Canada are expected to join Cognizant’s new Microsoft Business Group.
"We will have access to Cognizant's deep industry expertise and global scale, and together, provide best-in-class cloud solutions for the intelligent workplace, applied innovation, and managed services,” Jeff Tench, Chief Executive Officer, New Signature said.
New Signature has its presence in areas such as communications and media, financial institutions, government and associations, health and life sciences, as well as retail and manufacturing.