Acquisition Will Provide Growth Catalyst for Cognizant’s New Microsoft Business Group
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.
Cognizant Digital Systems and Technology President Greg Hyttenrauch said 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.
“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,” said Cognizant Digital Systems and Technology President Greg Hyttenrauch.
New Signature Chief Executive Officer Jeff Tench said New Signature’s success is built upon helping clients create and accelerate their business transformation through the adoption of Microsoft cloud technologies.
“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,” said New Signature Chief Executive Officer Jeff Tench.
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.
Microsoft’s Worldwide Commercial Business Executive Vice President Judson Althoff the New Signature acquisition will enhance Cognizant’s ability to partner with customers across industries and geographies on their cloud strategy and business transformation.
“We look forward to building on our long-standing partnership with Cognizant, especially with the coming launch of Cognizant’s new Microsoft Business Group,” said Microsoft’s Worldwide Commercial Business Executive Vice President Judson Althoff.
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 US 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.
Founded in 2003, New Signature is headquartered in the U.S., with operations in Canada, the U.K., and South Africa. New Signature is a cloud-first, full-service Microsoft partner committed to delivering innovative technology solutions that solve human challenges.
The company is full of curious and innovative thought leaders who are dedicated to providing outstanding customer experiences and building authentic relationships.
The company is compelled by our core values to drive transformational results for clients across all company sizes, geographies, and industries. The New Signature team delivers full lifecycle solutions—from project inception and planning through deployment to ongoing support and maintenance.
Cognizant (Nasdaq-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era.
The company’s unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the US, Cognizant is ranked 194 on the Fortune 500 and is consistently listed among the most admired companies in the world.