Red Hat unveiled updates across its portfolio of developer tools designed to help organizations build and deliver applications faster and more consistently across Kubernetes-based hybrid and multicloud environments.
Cognizant has agreed to acquire Devbridge, a privately-held software consultancy and product development company headquartered in Chicago.
The acquisition expands Cognizant's software product engineering capabilities and global delivery footprint by adding more than 600 engineers, designers and product managers in Lithuania, Poland, United States, United Kingdom, and Canada.
Clients are increasingly dependent on custom software to create better customer experiences, bring new products to market, and transform their business models. Traditional application development is being replaced with agile and DevOps methodologies that enable a more product-centric and business-outcome oriented approach to software engineering. Devbridge's cross-functional team of software product engineering professionals uses collaborative techniques and proprietary tools to deliver product design and development, service design, software engineering maturity, data strategy, and legacy modernization for their clients in financial services, healthcare, hospitality, logistics, and manufacturing.
"Our clients need agile and transformative partners that are capable of designing and building new software products that directly engage with consumers and employees on their terms," said Andres Angelani, SVP, Chief Product Engineering Officer, Cognizant. "Devbridge's talented team of product and engineering professionals deliver premium digital products, and we're confident their expertise and experience will help our clients grow their business and their brand."
Upon completion of the acquisition, Devbridge employees will become part of Cognizant Softvision, which develops custom digital products and has a global footprint with studios in the United States, Romania, India, Philippines, Argentina, Ukraine, Canada and Mexico.
"Cognizant Softvision and Devbridge both use a product-centric approach to create results for clients, and our culture, team structures, and company values are highly aligned," said Aurimas Adomavicius, President, Devbridge. "We are thrilled to join Cognizant and gain access to its deep industry domain expertise and to its Global 2000 client base, and bring our capabilities in product design and engineering, data strategy, service design, and workflow automation."
The transaction is expected to close before the end of 2021, subject to satisfaction of closing conditions. Financial details were not disclosed. Since 2019, Cognizant has invested more than $2.5 billion in acquisitions that expand its offerings in digital engineering, data and artificial intelligence, cloud, and the Internet of Things, to provide clients with the capabilities to compete as modern digital businesses.