Cognizant to Acquire Bright Wolf, Accelerating Growth in Industrial Internet of Things Services
Acquisition Will Expand Cognizant's Smart Products and Industry 4.0 Expertise
Oct 22, 2020, 06:00 ET
TEANECK, N.J., Oct. 22, 2020 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced it has agreed to acquire Bright Wolf, a privately-held technology services provider specializing in custom Industrial Internet of Things (IIoT) solutions for Fortune 1000 companies. Bright Wolf is certified by all major cloud providers and acknowledged as an expert in IoT. The company is a Microsoft Gold Partner and has been named an Amazon Web Services Advanced Technology Partner, IoT Competency. With the close of the acquisition, Cognizant will establish its newest IoT innovation lab in the Raleigh-Durham, N.C., Research Triangle, with the Bright Wolf team as its core.
"Combining Bright Wolf's experience in production-class IIoT deployments with Cognizant's expertise in foundational IIoT technologies will increase our clients' resiliency, operational efficiency, and competitive advantage," said Malcolm Frank, President, Digital Business, Cognizant. "Companies are increasingly embracing IIoT, and Bright Wolf's team of senior IIoT architects have delivered the business value others have struggled to achieve. We look forward to this talented team joining Cognizant."
"IIoT transformation can be a complex, high-stakes undertaking for any business," said Peter Bourne, Chief Executive Officer, Bright Wolf. "Bright Wolf has helped leading companies across industries realize their IIoT vision through our Zero Waste Engineering™ approach. We help ensure clients make the right investments at the right time and have the ability to scale as dictated by business and market needs. Our unique capabilities, together with Cognizant's deep vertical industry knowledge, scale, and expertise in predictive analytics, AI, cloud, and IoT, will provide clients with an unparalleled partner on their IIoT journey."
Bright Wolf will enrich Cognizant's smart products offering and expertise in architecting and implementing IIoT solutions. Bright Wolf delivers design consulting, development, and digital transformation services for clients such as Caterpillar and ITW Hartness in manufacturing, energy, transportation, water, healthcare, and agriculture, among other industries. For example, Bright Wolf recently introduced a solution for automation of cold chain transportation and refrigeration assets for one of the world's largest logistics companies.
Bright Wolf's specific expertise, centered on asset performance management, predictive maintenance, and yield optimization, includes:
- Connecting Industrial Equipment Transforming manufacturing machinery into connected assets and systems for new data-driven services, predictive maintenance, and customer value.
- Optimizing Industrial Operations Automating manufacturing, supply chain, and energy operations while modernizing legacy controls, human machine interface, and historians with a more intelligent edge, including analytics, AI, and secure cloud connectivity.
- Integrating Enterprise Data Improving data visibility and operational insights to deliver better performance across multi-site machinery, Enterprise Resource Planning, and Customer Relationship Management systems, as well as complex business workflow integrations.
- Leveraging Proprietary Accelerators for IIoT Deployments Increasing the time-to-value of industrial data with Springboard Cloud Services, connecting equipment to the cloud faster with Gearbox Edge Suite, and managing fleets at scale with GearBox Device Manager.
The transaction is expected to close in the fourth quarter of 2020, subject to the satisfaction of closing conditions. Financial details were not disclosed. Bright Wolf will mark Cognizant's eighth acquisition to date in 2020 to accelerate growth in the company's key strategic focus areas of cloud, AI and analytics, software product engineering, and IoT.
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About Bright Wolf
Bright Wolf is a strategic systems integration and technology partner for industrial enterprises seeking digital transformation through adaptable connected systems and services. Bright Wolf serves some of the largest companies in the world in manufacturing, energy production, supply logistics, environmental controls, and other industries.
About Cognizant
Cognizant (Nasdaq-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 194 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to expectations regarding the anticipated closing of the acquisition of Bright Wolf and the impact of the acquisition of Bright Wolf on the business and prospects of Cognizant. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
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