Benzinga | Jan 19, 2021 09:02AM EST

Cognizant To Acquire Magenic Technologies; Terms Not Disclosed

TEANECK, N.J., Jan. 19, 2021 /PRNewswire/ -- Cognizant (NASDAQ:CTSH) has entered into an agreement to acquire Magenic Technologies, Inc., a privately-held custom software development services company headquartered in Minneapolis, Minnesota. The acquisition will expand Cognizant's software product engineering footprint, adding 475 employees in the U.S. across seven locations and more than 350 employees in Manila, Philippines. Upon completion of the acquisition, Magenic associates will become part of Cognizant Softvision, connecting Magenic's expertise with Cognizant's global software development capabilities.