M&A Deal Summary

Cognizant Acquires 10th Magnitude

On September 1, 2020, Cognizant acquired information technology company 10th Magnitude from Pamlico Capital

Acquisition Highlights
  • This is Cognizant’s 14th transaction in the Information Technology sector.
  • This is Cognizant’s 18th transaction in the United States.
  • This is Cognizant’s 1st transaction in Illinois.

M&A Deal Summary
Date 2020-09-01
Target 10th Magnitude
Sector Information Technology
Buyer(s) Cognizant
Sellers(s) Pamlico Capital
Deal Type Add-on Acquisition

Target

10th Magnitude

Chicago, Illinois, United States
10th Magnitude, Inc. is a cloud specialist focused exclusively on the Microsoft Azure cloud computing platform. The company combines elements from multiple deep cloud competencies, as well as the most efficient and innovative technology tools and platforms to help clients become more agile, more customer-focused, and more operationally efficient. 10th Magnitude was established in 2010 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Cognizant

Teaneck, New Jersey, United States
Category Company
Founded 1994
Sector Information Technology
Employees344,400
Revenue 19.4B USD (2023)
DESCRIPTION
Cognizant's office in Hyderabad, India.
Cognizant's office in Hyderabad, India.

Cognizant is a provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Cognizant was incorporated in 1994 and is based in Teaneck, New Jersey.

DEAL STATS #
Overall 41 of 55
Sector (Information Technology) 14 of 20
Type (Add-on Acquisition) 34 of 46
State (Illinois) 1 of 2
Country (United States) 18 of 27
Year (2020) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 Tin Roof Software

Atlanta, Georgia, United States

Tin Roof Software is a designer, developer, and manages end-to-end e-Commerce solutions for clients across a variety of industries including media and broadcasting, retail, and healthcare. Tin Roof Software was established in 2014 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-22 Bright Wolf

Durham, North Carolina, United States

Bright Wolf LLC is a privately-held technology services provider specializing in custom Industrial Internet of Things (IIoT) solutions for Fortune 1000 companies. Bright Wolf is based in Durham, North Carolina.

Buy -

Seller(S) 1

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 52 of 61
Sector (Information Technology) 7 of 7
Type (Add-on Acquisition) 26 of 32
State (Illinois) 1 of 2
Country (United States) 50 of 59
Year (2020) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-20 Digitech Computer

Chappaqua, New York, United States

Digitech offers comprehensive RCM services and technology solutions focused exclusively on the EMS market. Digitech serves municipalities, hospitals, and private ambulance customers through innovative technology, time-tested processes, and true partnerships with EMS clients.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-10 Fastpath

Des Moines, Iowa, United States

Fastpath is a provider of security access, monitoring, and compliance platform. Fastpath’s core product offering, Assure, is a SaaS software suite of tools that can integrate with multiple ERP systems, enabling corporate finance and risk managers to automatically monitor IT systems for security and compliance events. Fastpath was founded in 2004 and is based in Des Moines, Iowa.

Buy -
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