TEANECK, N.J., July 20, 2021 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced it has agreed to acquire TQS Integration, a privately owned global industrial data and intelligence company based in Lismore, Ireland. TQS delivers manufacturing data intelligence, global technology consulting and digital systems integration to help manufacturers accelerate their digital transformations. Founded in 1998, TQS services clients in the life sciences, food and beverage, and energy and renewables industries.
As manufacturers embrace Industry 4.0 and realize the power of data, industrial data platforms and services are critical to obtain a complete view of the value chain and make analytical, data-driven decisions to improve overall operations. TQS's data intelligence capabilities, which will be combined with Cognizant's core Industry+ and digital competencies, use artificial intelligence (AI) and machine learning to collect, contextualize and analyze manufacturing data. This allows manufacturers to make smarter decisions and improve operating costs, speed of implementation, and product quality and yield.
"TQS enhances Cognizant's end-to-end smart factory capabilities, helping clients realize information and operational technology convergence and drive digital transformation in their manufacturing operations," said Srinivas Shankar, senior vice president and global markets lead, Life Sciences, Cognizant. "With TQS, Cognizant not only becomes one of the industry's most comprehensive solutions for Manufacturing 4.0 for life sciences. We also strengthen our data historian and analytics capabilities to help all our manufacturing clients harness the power of data intelligence to compete in new ways."
TQS helps nine of the top 10 global life sciences companies enable smart manufacturing. Cognizant, which previously strengthened its life sciences manufacturing capabilities with the 2019 acquisition of Zenith Technologies, will combine TQS's expertise with its own to help clients transition to Industry 4.0 and expedite the production of life-changing medicines. These service solutions, expertise and thought leadership benefit Cognizant's current life sciences clients, as well as clients in the broader manufacturing landscape.
"Our world-class team of data intelligence and technology consultants have built a tremendous track record in helping our life sciences manufacturing clients transform their businesses," said Máire Quilty, corporate managing director, TQS. "Together with Cognizant, we look forward to broadening our impact to manufacturing clients in other industries who are looking to embrace Industry 4.0."
TQS, a premier partner of OSIsoft, which was recently acquired by AVEVA, provides advanced solutions for OSIsoft's Pi System, giving clients advanced data visualization and data analysis of time and historical data to help them make real-time business decisions.
"The addition of TQS will further strengthen and accelerate the collaboration we have with Cognizant," said Kerry Grimes, senior vice president and head of global partners, AVEVA."This acquisition combines Cognizant's rich AVEVA experience with TQS's knowledge of OSIsoft. Similar to our recent acquisition of OSIsoft, this addresses the joint capabilities our clients need to drive their digital transformation journey. We look forward to the unique market opportunities that we can present together to our customers and partners."
TQS is Cognizant's fifth acquisition in 2021. Since 2019, Cognizant has accelerated growth in the areas of Internet of Things, data and analytics with acquisitions, including Zenith Technologies, Bright Wolf, and ESG Mobility. TQS expands Cognizant's presence in Ireland, a hub for the world's leading life sciences manufacturing experts and an ideal location for delivering Industry 4.0 consulting and services to European manufacturing clients.
The transaction is expected to close in the third quarter of 2021, subject to satisfaction of closing conditions. Financial details were not disclosed.
About TQS Integration
TQS Integration is a global data intelligence company providing turnkey solutions in system architecture and application design, engineering, system integration, project management, commissioning and 24x7 "follow the sun" support services to valued customers. TQS is at the forefront of data intelligence for over 20 years, working with an extensive client base in the Pharmaceutical, Life Science, Food & Beverage, Energy and Renewables industries. As the go-to partner for data collection, contextualization, visualization, analytics, and managed services, we are the main drivers in the world's leading companies — helping them become leaders in Industry 4.0.
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 US, Cognizant is ranked 185 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 TQS and the impact of the acquisition of TQS 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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