M&A

M&A

Cognizant to acquire US-based Azure services provider 3Cloud

Press Release  

Nasdaq-listed, India- and US-based IT services firm Cognizant is to acquire Chicago, IL (USA) and Dallas, TX (USA)-headquartered 3Cloud, a Microsoft Azure services provider and Azure-dedicated AI enablement solutions.Since 2020, 3Cloud has achieved 20% organic compound annual growth, with similar growth projected for 2025. 3Cloud will add over 1,000 Azure experts and engineers, along with more than 1,500 Microsoft certifications, to Cognizant's existing capabilities, bringing the total to nearly 20,000 Azure-certified associates globally.3Cloud is a portfolio company of US-based private equity firm Gryphon Investors.Mayer Brown served as legal advisor to Cognizant, while Lazard, Inc. acted as financial advisor to Gryphon Investors, and Kirkland & Ellis LLP served as their legal advisor.