Cognizant (Nasdaq: CTSH) today announced it has entered into an agreement to acquire New Signature, one of the world’s largest independent Microsoft public cloud transformation specialists. The transaction is expected to close in the third quarter of 2020, subject to regulatory clearance and other closing conditions. Financial details were not disclosed.
The acquisition of New Signature expands Cognizant’s hyperscale cloud advisory services, and will provide the foundation for a new, dedicated group within Cognizant centered on Microsoft cloud solutions. New Signature, an award-winning Microsoft Partner, is exclusively focused on Microsoft technologies, with an integrated offering across all three of Microsoft’s business clouds: Azure, Microsoft 365, and Dynamics 365. Upon the close of the acquisition, New Signature’s more than 500 cloud experts, based primarily in the U.S., U.K., and Canada, will join Cognizant’s newly-formed Microsoft Business Group.
“The pace of cloud adoption continues to accelerate across industries, with Microsoft’s cloud solutions among the preferred technologies to help transform and strengthen businesses,” said Greg Hyttenrauch, President, Cognizant Digital Systems and Technology. “Acquiring New Signature will enrich our cloud-first capabilities and complement our increasing strengths as a Microsoft partner. We look forward to welcoming New Signature into the Cognizant family.”
“New Signature’s success is built upon helping clients create and accelerate their business transformation through the adoption of Microsoft cloud technologies,” said Jeff Tench, Chief Executive Officer, New Signature. “In joining Cognizant, we will have access to Cognizant’s deep industry expertise and global scale, and together, provide best-in-class cloud solutions for the intelligent workplace, applied innovation, and managed services. We share a passion for innovation and look forward to our future at the heart of Cognizant’s new Microsoft Business Group.”
New Signature’s global client portfolio includes businesses across a broad range of industries, as well as government and non-profit institutions. Engagements have included a cloud migration for Virgin Atlantic Airways, an IoT solution for The Hershey Company, and a solution to map all public defibrillators in the U.K. for the National Health Service (NHS) and the British Heart Foundation.
New Signature will be Cognizant’s fifth cloud-related acquisition in 2020. Cloud is an area of strategic focus and continued investment for Cognizant as it expands capabilities to help clients become fully digital, data-enabled, customer-centric businesses. Underscoring its success in accelerating and executing on its cloud strategy, Cognizant was recently named a Leader in Gartner’s 2020 Magic Quadrant for Public Cloud Infrastructure Professional and Managed Services, Worldwide. Additionally, Cognizant was recognized this month as a 2020 Microsoft Partner of the Year in three categories: SAP on Azure, Government, and U.S. Partner for Modern Workplace – Apps & Solutions for Microsoft Teams.
“The New Signature acquisition will enhance Cognizant’s ability to partner with customers across industries and geographies on their cloud strategy and business transformation,” said Judson Althoff, Executive Vice President of Microsoft’s Worldwide Commercial Business. “We look forward to building on our long-standing partnership with Cognizant, especially with the coming launch of Cognizant’s new Microsoft Business Group.”
New Signature is one of 70 certified Azure Expert Managed Service Providers worldwide and has 16 Gold Microsoft Competencies or specializations. New Signature has received numerous Microsoft recognitions, including the 2019 Microsoft U.K. Partner of the Year award, 2018 Microsoft IMPACT Canada award, and 2015 and 2014 Microsoft U.S. Partner of the Year awards. New Signature was also recognized in 2019, for the eighth consecutive year, as one of the Inc. 5000 Fastest Growing Companies.