New Delhi: Tech main Cognizant on Thursday introduced the acquisition of Munich, Germany-based ESG Mobility, a digital automotive engineering R&D supplier for linked, autonomous and electrical autos. On completion of the acquisition, practically 1,000 engineering R and D specialists will be a part of Cognizant within the automotive innovation hubs of Germany, the US and China, the IT firm mentioned in an announcement.
Cognizant and ESG Mobility collectively will present engineering providers to eight of the world’s prime 10 automotive unique tools producers (OEM).
The acquisition would prolong Cognizant’s capabilities in digital automotive engineering R&D together with in good, linked mobility, the assertion mentioned however didn’t reveal the monetary particulars of the transaction.
As per obtainable estimates, the globally linked automobile market which was valued at about USD 63 billion in 2019, is projected to surpass USD 225 billion by 2027.
ESG Mobility is a wholly-owned subsidiary of ESG Elektroniksystem – and Logistik – GmbH, a privately-held know-how consultancy for the design, integration and operation of complicated, security-related electronics and IT methods. ESG Mobility gives providers throughout the automotive software program stack with key strengths in electrical and digital methods and linked car purposes, in addition to rising capabilities for autonomous and electrical autos.
“Buying ESG Mobility will develop Cognizant’s automotive engineering experience, significantly in linked autos,” Cognizant assertion mentioned.
Among the many progress, drivers are the European Fee’s Third Mobility Package deal, which requires the event of secure, clear, linked automobiles and autonomous and electrical autos, in addition to all new autos to be linked to the web by 2022.
Commenting on the acquisition, Malcolm Frank, President of Digital Enterprise and Know-how, Cognizant mentioned that the automotive trade is present process a basic shift, embracing new mobility ideas that rely closely on software program, connectivity and synthetic intelligence.
“Our precedence is offering purchasers with the capabilities they should compete as fashionable digital companies, and ESG Mobility is a pure complement to our current linked mobility choices and international supply mannequin,” Frank added.
The transaction is anticipated to shut within the second quarter of 2021, topic to the completion of closing situations.
On completion, ESG Mobility workers will change into a part of Cognizant’s Web of Issues (IoT) and Engineering Providers Apply.
It’s pertinent to say right here that ESG Mobility transaction marks Cognizant’s fourth acquisition in 2021, and thirteenth acquisition since January 2020, additional increasing its capabilities in key digital focus areas corresponding to cloud, knowledge and synthetic intelligence, digital engineering and Web of Issues (IoT).
