TEANECK, N.J., June 18, 2019 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced it has agreed to acquire Zenith Technologies, a privately-held life sciences manufacturing technology services company headquartered in Cork, Ireland. Zenith Technologies specializes in implementing digital technologies to manage, control and optimize drug and medical device production for maximum operational efficiency and regulatory compliance.
The acquisition extends Cognizant's capabilities for designing, implementing and managing end-to-end operational and information technology systems for connected biopharmaceutical and medical device manufacturers. Interconnected "smart factories" have become a strategic priority for the industry, with production systems and processes becoming more complex because of research advances and increased demand for large-molecule biologics.
The combined Cognizant-Zenith Technologies expertise will deliver a range of Industry 4.0 capabilities, from factory design consultation, machine sensor and controller instrumentation, supervisory control, and data acquisition, to manufacturing execution systems, batch automation, enterprise resource planning integration and managed services. The company's operating hubs in Ireland, Germany, India, Singapore, the United States and other sites around the world are located near manufacturing facilities of many Cognizant clients. Cognizant is a leading services provider to the life sciences industry, working with all of the world's top 30 life sciences companies.
"Industry 4.0 solutions, encompassing Internet of Things (IoT), automation and analytics, are a strategic focus area for Cognizant," said Brian Humphries, Chief Executive Officer, Cognizant. "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. We look forward to welcoming Zenith Technologies' employees to Cognizant."
"In joining Cognizant, we are bringing together two respected life sciences service provider brands with complementary technology and manufacturing operations expertise," said Joe Haugh, Chief Executive Officer, Zenith Technologies. "It's an exciting time for us, with the life sciences industry embracing digital transformation to enable more flexible and efficient manufacturing facilities to bring new treatments to market faster. Our combined business will drive process excellence through tighter integration of manufacturing processes and systems, the efficient harnessing of information and analytics across the manufacturing value chain, and the adoption of IoT technologies delivering manufacturing 4.0. Together, we are well-positioned to help clients more efficiently produce the life-changing medicines and medical devices for patients who need them most."
The transaction is expected to close in the third quarter of 2019, subject to satisfaction of closing conditions, including regulatory review. Financial details were not disclosed.
Founded in 1998, Zenith Technologies operates on five continents, with 16 locations around the globe. Zenith Technologies works with nine of the world's 10 largest biopharmaceutical manufacturers, implementing and supporting their manufacturing lifecycle software through its Consultancy, Manufacturing Digital and Automation Systems Integration, and Manufacturing Site Services business lines.
A recognized industry leader, Zenith Technologies was named "Pharma Supplier of the Year" at the 2018 Pharma Industry Awards, which acknowledge companies demonstrating innovation and excellence in the Irish biopharma industry.
Zenith Technologies' more than 800 people will become part of Cognizant's Life Sciences business unit.
About Zenith Technologies
Zenith Technologies is a global company specializing in full lifecycle automation, manufacturing and operational support solutions for the life science industry. Zenith Technologies operates out of 16 global locations and in proximity to all the major life science manufacturing centers. For more information, visit www.zenithtechnologies.com.
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 193 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.
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 Zenith Technologies and the impact of the acquisition of Zenith Technologies on the business and prospects of Cognizant and Zenith Technologies. 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.