Systems integration behemoth Cognizant has acquired fast-growing Microsoft partner 10th Magnitude as a part of an Azure sales blitz anchored by a new Microsoft business group.
The deal teams 10th Magnitude’s talented Microsoft Azure team with New Signature, another top-notch Microsoft solution provider that Cognizant acquired just last month.
Financial terms of the deal were not disclosed. The deal is expected to close in the third quarter.
“We are so excited to be in an agreement to be acquired by Cognizant,” said 10th Magnitude CEO Alex Brown (pictured) in a prepared statement to CRN. “10th Magnitude has been one of the longest-standing Azure-centric system integration partners focusing on digital transformation. Our opportunity to expand the Microsoft Azure expertise within Cognizant’s new Microsoft Business Group is a big win for our mutual customers.”
Cognizant shares were down one cent or four percent to $66.83 in the wake of the acquisition.
Cognizant, No. six on the 2020 CRN SP500, said the acquisition- its sixth cloud related deal in 2020- expands its Microsoft Azure expertise, adding more muscle to the new Microsoft Business Group.
10th Magnitude – a Microsoft Gold partner with 150 employees – is one of just 70 certified Azure Expert Managed Service providers worldwide. Just this year, it received the Microsoft US Application Innovation Partner Award and the Microsoft US Solution Assessment Partner Award.
“10th Magnitude’s increased focus on application modernization and data intelligence with AI-driven analytics and insights will be an incredible contribution to Cognizant’s acquisition strategy,” said 10th Magnitude Chief Technology Officer