Source: ET Bureau
This is the first acquisition announced by the IT services major after Brian Humphries took charge as the chief executive officer.
Cognizant said it would acquire Zenith Technologies for an undisclosed value to strengthen its internet of things (IoT) capabilities and gain life sciences domain expertise. This is the first acquisition announced by the IT services major after Brian Humphries took charge as the chief executive officer.
Zenith Technologies, an Ireland headquartered life sciences manufacturing technology services company, specializes in implementing digital technologies to manage, control and optimize drug and medical device production for operational efficiency and regulatory compliance.
This acquisition extends Cognizant’s capabilities for designing, implementing and managing end-to-end operational and information technology systems for connected biopharmaceutical and medical device manufacturers, said Cognizant in a press release.
IT services companies are seeing more clients in the life sciences sector focus on smart factories with production systems and processes becoming more complex owing to research advances and increased demand for large-molecule biologics.
“Industry 4.0 solutions, encompassing IoT, automation and analytics, are a strategic focus area for Cognizant. In acquiring Zenith Technologies, we expand Cognizant’s IoT portfolio and extend our life sciences domain expertise by becoming a single-source provider of end-to-end smart factory capabilities,” Humphries was quoted saying in the release.