IT firm Cognizant has acquired Ireland-based Zenith Technologies, a life sciences manufacturing tech company, for an undisclosed amount. The acquisition is expected to close in the third quarter of 2019, and more than 800 employees of Zenith will become part of Cognizant’s life sciences business unit.
Zenith Technologies specializes in digital technologies that can be used to manage, control and optimise drug and medical device production.
The deal will extend Cognizant’s capabilities to design and implement information technology systems for the pharma and medical device industry. Zenith’s operating hubs in Ireland, Germany, India, Singapore, and other markets are situated near manufacturing facilities of many Cognizant clients, the IT major said.
“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. Together, we are better positioned to help clients realize information and operational technology convergence in their manufacturing operations, and advance the development of life-saving drugs, biologics, specialized pharmaceuticals and medical devices,” Brian Humphries, CEO, Cognizant, said.
For the quarter ended March, Cognizant’s revenue from healthcare grew at a tepid 4% on the back of industry consolidation among healthcare clients. The life sciences vertical delivered above average growth in the quarter driven by large deals.
“In joining Cognizant, we are bringing together two respected life sciences service provider brands with complementary technology and manufacturing operations expertise,” Joe Haugh, CEO, Zenith Technologies, said.
Founded in 1998, Zenith Technologies operates across 16 locations around the globe. The privately-held company counts nine of the world’s 10 largest biopharmaceutical manufacturers as its clients.
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