The demand for software engineering is expected to grow as companies invest in new technologies and products to meet the changing needs of consumers and stay competitive in the market. Cognizant acquires Mobica to advance its Internet of Things (IoT) software engineering service offerings.
This deal expands Cognizant’s IoT software engineering abilities and delivers clients with a deeper and broader array of end-to-end support to enable digital transformation.
“Mobica’s strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant’s Global 2000 client base and key industries,” said Annadurai Elango, executive vice president of Cognizant’s Core Technologies and Insights.
“We believe combining Mobica’s expertise with Cognizant’s strong IoT and product engineering capabilities will result in enhanced digital transformation outcomes for global clients in the technology and automotive industries and beyond,” said Elango
Upon closing the agreement, Cognizant will add nearly 900 people across Europe and North America, including approximately 550 engineers in Poland.
Software engineering spending is likely to grow as organizations continue to invest in research and development, product innovation, and new technologies.
The increasing demand for new and improved products and technological advancements will drive companies to invest more in software engineering to stay competitive in the market. For example, the growing popularity of electric vehicles, smart homes, and the IoT will increase software engineering spending for companies in the automotive and technology industries.
Additionally, the COVID-19 pandemic has accelerated digital transformation, many companies are investing in digital products and services, which will drive the growth of product engineering spending.
As companies look to expand their product offerings, software engineering spending will likely grow as they invest in new product development and improvement. This is a positive trend for companies, as it can lead to increased revenue and market share.
“Mobica has built a reputation for world-class IoT embedded software engineering expertise across the entire technology stack, from chip to cloud,” said Sam Kingston, CEO of Mobica.
Also Read: Recent layoffs: Tech companies laid off more than 70,000 employees