Cognizant Technology Solutions Corp has acquired Inawisdom Ltd, a United Kingdom-based privately held firm that uses frontier technologies to help improve business outcomes.
In a statement, the Nasdaq-listed IT major said the acquisition was its ninth deal this year. It is in line with its strategy of expanding its capabilities for clients in areas such as data, artificial intelligence, cloud and the internet of things.
The two companies did not disclose the financial details of the transaction. However, Cognizant said it has invested more than $1.1 billion (around Rs 8,131.29 crore at current exchange rates) for its acquisitions this year.
Following the acquisition, Inawisdom will join with Contino, another Cognizant-owned company.
Inawisdom was set up in 2016 by Neil Miles and Robin Meehan. The company says it uses AI and other technologies to help business make decisions faster to improve their outcomes.
It provides cloud-native full-stack solutions as well as a machine learning and analytics platform built using the Amazon Web Services platform. The firm has offices across the UK and works with clients in regions including Europe and the Middle East.
“Cognizant and Inawisdom's clients will benefit from our shared, deep relationships with AWS and our combined expertise with AI, machine learning, cloud, and data analytics,” Cognizant digital business president Malcolm Frank said.
Cognizant has struck several other acquisitions this year, with many of them specialising in providing solutions hinging on a specialist platform such as Salesforce, Workday or Azure.
In September, the company acquired 10th Magnitude, a cloud specialist focussed on Microsoft’s Azure platform. A week prior to that, it announced the purchase of US-based Tin Roof Software, which specialises in digital products that allow firms to improve customer experience and increase revenue.
In July, Cognizant acquired New Signature, a firm that specialises in Microsoft-focused public cloud business transformations. In May, it took over Collaborative Solutions, a privately held consultancy that specialises in Workday enterprise cloud finance and human resources services.
Prior to that in March, the IT major bought Lev, a US-based digital marketing consultancy and Salesforce specialist. In February, the firm announced that it was planning to acquire the French operations of EI-Technologies, a Paris-based privately held digital technology consulting firm and Salesforce specialist.