Cognizant Acquires 10th Magnitude
September 1, 2020
Cognizant has agreed to acquire Chicago-based 10th Magnitude, a Microsoft Azure-focused cloud specialist, to deepen Cognizant’s Azure capabilities within its Microsoft Business Group. The acquisition brings 10th Magnitude’s advisory, application modernization, managed services and data intelligence expertise into Cognizant; the deal was expected to close in Q3 2020 and was later completed (seller included Pamlico Capital). Financial terms were not disclosed in the initial announcement.
- Buyers
- Cognizant
- Targets
- 10th Magnitude
- Sellers
- Pamlico Capital Management (and other shareholders)
- Industry
- IT Services
- Location
- Illinois, United States
- Transaction Type
- Buyout
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