Information technology (IT) services major Cognizant has acquired TQS Integration, a privately owned global industrial data and intelligence company based in Lismore, Ireland.
TQS delivers manufacturing data intelligence, global technology consulting and digital systems integration to help manufacturers accelerate their digital transformations, a company statement said without disclosing the financial details of the deal.
Founded in 1998, TQS services clients in the life sciences, food and beverage, and energy and renewables industries.
TQS's data intelligence capabilities, which will be combined with Cognizant's core Industry and digital competencies, use artificial intelligence (AI) and machine learning to collect, contextualize and analyse manufacturing data.
This will allow manufacturers to make smarter decisions and improve operating costs, speed of implementation, and product quality and yield, the statement added.
"TQS enhances Cognizant's end-to-end smart factory capabilities, helping clients realize information and operational technology convergence and drive digital transformation in their manufacturing operations," Srinivas Shankar, senior vice president and global markets lead, Life Sciences, Cognizant, said.
"With TQS, Cognizant not only becomes one of the industry's most comprehensive solutions for Manufacturing 4.0 for life sciences. We also strengthen our data historian and analytics capabilities to help all our manufacturing clients harness the power of data intelligence to compete in new ways," he added.
Cognizant, which previously strengthened its life sciences manufacturing capabilities with the 2019 acquisition of Zenith Technologies, said that it will combine TQS's expertise with its own to help clients transition to Industry 4.0 and expedite the production of life-changing medicines.
"Together with Cognizant, we look forward to broadening our impact to manufacturing clients in other industries who are looking to embrace Industry 4.0," Máire Quilty, corporate managing director, TQS, said.
TQS is Cognizant's fifth acquisition in 2021. Since 2019, Cognizant has accelerated growth in the areas of Internet of Things, data and analytics with acquisitions, including Zenith Technologies, Bright Wolf, and ESG Mobility.
The transaction is expected to close in the third quarter of 2021, subject to satisfaction of closing conditions.