RTTNews | Dec 7, 2021 09:30AM EST

09:29 Tuesday, December 7, 2021 (RTTNews.com) - Cognizant (CTSH) announced Tuesday it has agreed to acquire Devbridge, a privately-held software consultancy and product development company headquartered in Chicago. Financial details were not disclosed.

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.

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.

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.

The transaction is expected to close before the end of 2021, subject to satisfaction of closing conditions.

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