New Jersey-based technology company Cognizant (Nasdaq: CTSH) has entered an agreement to acquire Plano-based management consulting firm AustinCSI for an undisclosed price, according to a news release. The transaction is set to close in the fourth quarter of 2022.
Through the acquisition, Cognizant will use AustinCSI's cloud and data analytics to improve transformation strategies and solutions for its clients.
"AustinCSI has built a stellar reputation by improving business outcomes for some of the world's most recognizable brands," Michael Valocchi, head of Cognizant consulting and Americas strategy, said in the release. "We look forward to welcoming AustinCSI's talented experts to our team and further enriching the value we're providing to our clients as they embrace cloud, AI, data analytics, and other advancing technologies."
Cognizant will also invest in expanding its data and artificial intelligence, cloud and digital engineering services.
"We're excited by the opportunity to become part of Cognizant and combine our strengths in delivering advanced and transformative technologies to clients," Karen Moree, CEO and co-founder of AustinCSI, said in the release. "Together, we can provide more impact for our current clients with broader capabilities in emerging digital technologies and reach a wider market leveraging Cognizant's global scale."
Founded in 2007, AustinCSI provides consulting, cloud and data services for clients.
