Inflexion is happy to announce it has accomplished the sale of its funding in Mobica (“Mobica”), a world software program improvement and integration companies specialist, to Cognizant, a US-based NASDAQ-listed enterprise in a transaction that values Mobica at £250m.
The announcement marks the second exit for Inflexion funds in 2023 following a profitable 2022 which noticed 9 exits accomplished collectively returning over £1.6bn of proceeds to Inflexion traders.
Mobica supplies Expertise as a Service throughout the total software program improvement cycle, with core competencies in improvement, implementation, testing and deployment of embedded software program, and a specialisation in purchasers’ strategic inner analysis and improvement tasks. The Manchester-based agency operates out of the UK, Europe and the US and counts blue-chip purchasers amongst its buyer base together with Google, Arm, Dyson, Meta, BMW, Samsung and Vodafone.
Inflexion supported funding into gross sales and software program engineering to assist drive world operational efficiencies and additional speed up multi-site scalability. A part of the transformation included a major build-out of the management crew, considerably growing depth and functionality throughout the enterprise. One other key development initiative through the partnership was Mobica’s enlargement into Germany, enabling the enterprise to develop into a European chief inside the automotive embedded software program sector.
Annadurai Elango, Government Vice President, Cognizant’s Core Applied sciences and Insights