Inflexion Partnership Capital completes sale of Mobica
Inflexion is pleased to announce it has completed the sale of its investment in Mobica (“Mobica”), a global software development and integration services specialist, to Cognizant, a US-based NASDAQ-listed business in a transaction that values Mobica at £250m.
The announcement marks the second exit for Inflexion funds in 2023 following a successful 2022 which saw nine exits completed collectively returning over £1.6bn of proceeds to Inflexion investors.
Mobica provides Talent as a Service across the full software development cycle, with core competencies in development, implementation, testing and deployment of embedded software, and a specialisation in clients' strategic internal research and development projects. The Manchester-based firm operates out of the UK, Europe and the US and counts blue-chip clients among its customer base including Google, Arm, Dyson, Meta, BMW, Samsung and Vodafone.
Inflexion supported investment into sales and software engineering to help drive global operational efficiencies and further accelerate multi-site scalability. Part of the transformation included a significant build-out of the leadership team, significantly increasing depth and capability across the business. Another key growth initiative during the partnership was Mobica’s expansion into Germany, enabling the business to become a European leader within the automotive embedded software sector.
The leadership team at Mobica have done a tremendous job in growing the business into a leading global player within its specialised software engineering niche. We are proud of the increase in the capabilities of the business and expanded geographic footprint during our partnership and are confident that it will continue to grow and develop.
Inflexion has been a great partner as we’ve built the business into a global leader and strengthened our reputation. Their unwavering support has been invaluable as we’ve turbocharged the growth of business, won major new customers and expanded into Germany.
Mobica's strong track record of delivering strategic embedded software engineering services is well-aligned to Cognizant's Global 2000 client base and key industries, while its large presence in Poland significantly enhances our growing development teams in Central and Eastern Europe. We believe combining Mobica's expertise with Cognizant's strong IoT and product engineering capabilities will result in enhanced digital transformation outcomes for global clients in the technology and automotive industries and beyond.
Annadurai Elango, Executive Vice President, Cognizant's Core Technologies and Insights