Cognizant completes acquisition of Magenic Technologies - The EE

Cognizant completes acquisition of Magenic Technologies

Cognizant has completed the previously announced acquisition of Magenic Technologies, a privately-held custom software development services company headquartered in Minneapolis, Minnesota.

The acquisition expands Cognizant’s software product engineering footprint, adding 475 employees in the U.S. across seven locations, and more than 350 employees in Manila, Philippines.

Working across a range of industries, Magenic provides Agile software and cloud development, DevOps, experience design, and advisory services. Custom solutions for Fortune 500 clients and others include re-architecting and migrating products to the cloud, building customer-facing web apps, creating APIs, and designing secure payment processing systems.

Malcolm Frank

Magenic is Cognizant’s third acquisition in 2021, and the 12th announced since January 2020, to expand in key strategic focus areas, digital engineering, data and artificial intelligence, cloud, and the Internet of Things. Magenic works across a range of industries, including financial services, professional services, insurance, pharmaceutical, and manufacturing.

“Magenic has exceptional software development and cloud modernisation teams that will enhance our global engineering talent network and expertise,” says Malcolm Frank, president, Digital Business and Technology, Cognizant. “We continue to invest in digital engineering, a key priority as clients move from traditional application development to custom software to provide compelling customer experiences and differentiated productivity solutions. We look forward to welcoming Magenic’s experts to Cognizant.”

Greg Frankenfield

“We have been solving complex business and technological challenges with agility and speed for over 25 years, and Magenic continues to create highly innovative software solutions in the cloud,” adds Greg Frankenfield, co-founder and CEO of Magenic.

Financial details were not disclosed.

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