Cognizant announces the acquisition of AustinCSI, a management consulting firm based in the United States IT giant Cognizant announced the acquisition of AustinCSI for an undisclosed sum.AustinCSI provides industry-specific consulting services to Fortune 500 clients. More than 175 consultants work for the company to create and implement cloud and automation solutions.
According to Michael Valocchi, senior vice president, head of Consulting and Americas Strategy, AustinCSI has established an exceptional reputation by enhancing the business outcomes of several of the world’s best known brands, particularly in the media, telecommunications, technology, automobile, and markets where cognizant is also stringent.
According to Cognizant, the transaction is also anticipated to close in the fourth quarter of 2022, subject to the fulfillment of the conditions.
Karen Moree, co-founder and CEO of AustinCSI, stated that the opportunity to join Cognizant and combine their strengths in providing transformative and cutting-edge technologies to their clients excites them greatly.
Cognizant’s strategic focus on expanding its consulting practice and advisory capabilities to provide clients with end-to-end digital transformation strategy and industry-leading solutions will be supported by AustinCSI’s enterprise cloud and data analytics expertise.
Cognizant finished the third quarter earlier this month with a 2.4% increase in revenue. Cognizant claims that revenue for the third quarter increased to approximately 4.9 billion dollars, up from approximately 4.7 billion dollars for the same period in 2021.
Additionally, Cognizant has agreed to acquire OneSource’s professional services and application management practices, which are based in the United States. Following the closing of the transaction, the company will employ an additional 400 people.