IT services and consulting company Cognizant announced it has agreed to buy AustinCSI, a Dallas-based digital transformation consultancy specializing in enterprise cloud and data analytics advisory services.
New Jersey-based Cognizant said the acquisition complements its technology prowess and vertical industry expertise, enriching its advisory capabilities for delivering comprehensive digital strategy as well as innovative solutions to clients. Cognizant’s Texas headquarters is in Plano.
“Client demand for end-to-end digital strategy and industry-specific solutions continues to accelerate,” Michael Valocchi, senior vice president, head of Cognizant Consulting and Americas Strategy, said in a statement.
Valocchi says AustinCSI has “built a stellar reputation by improving business outcomes for some of the world’s most recognizable brands, particularly in the telecommunications, media, technology, and automotive sectors, markets where Cognizant is also strong.”
AustinCSI provides consulting services for Fortune 500 clients across industries, Cognizant said. Formerly a privately held company, AustinCSI has more than 175 consultants who design and deliver cloud and automation solutions, leveraging data to help businesses improve their decision-making and deliver better customer experiences and business outcomes, the company said.
“We’re excited by the opportunity to become part of Cognizant and combine our strengths in delivering advanced and transformative technologies to clients,” Karen Moree, CEO and co-founder of AustinCSI, said in a statement. “Together, we can provide more impact for our current clients with broader capabilities in emerging digital technologies and reach a wider market leveraging Cognizant’s global scale.”
Adding AustinCSI’s enterprise cloud and data analytics expertise supports Cognizant’s strategic focus on expanding its Consulting practice and advisory capabilities to provide clients with end-to-end digital transformation strategy and industry-led solutions. Cognizant also continues to invest in expanding capabilities in four key technology areas: data and artificial intelligence, cloud, digital engineering, and internet of things.
“We look forward to welcoming AustinCSI’s talented experts to our team and further enriching the value we’re providing to our clients as they embrace cloud, AI, data analytics, and other advancing technologies,” Valocchi said.
The transaction is expected to close in the fourth quarter this year. No financial details were disclosed.
On LinkedIn, AustinCSI Founder Moree called the deal “the next step toward creating new opportunities for our employees and clients alike.”
“Over the last 15 years we’ve taken pride in creating innovative approaches to drive transformation for our clients and we can’t wait to see what the future holds as we enter this new chapter,” she writes in a post thanking employees and clients who have shared the consultancy’s journey. “We’re invested in the outcomes of tomorrow … Upwards & Onwards.”
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