December 9, 2021
Clearsight Advises Devbridge in its Acquisition by Cognizant
Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its leading Digital Transformation practice. Clearsight served as the exclusive strategic advisor to Devbridge (or the “Company”) in its acquisition by Cognizant Softvision, a subsidiary of Cognizant (NASDAQ: CTSH). The deal marks Clearsight’s ninth digital transformation transaction in the last 12 months.
Devbridge is a premier digital product design and development consultancy headquartered in Chicago, IL. The Company delivers highly strategic, tech-enabled business transformation to global enterprises, leveraging a team of 600+ consultants and engineers across the US, UK, Canada, Lithuania and Poland. Devbridge’s cross-functional teams of software product development professionals use collaborative techniques and proprietary tools to deliver product design and development, service design, software engineering maturity, data strategy and legacy modernization for their clients in financial services, healthcare, hospitality, logistics and manufacturing. Devbridge will provide Cognizant Softvision with a strong Eastern European presence, in-market capabilities and bolster their portfolio of global digital engineering offerings.
Martin Stasaitis, Co-founder and CEO of Devbridge, applauded the transaction, “After getting to know the Clearsight team for a few years, it was apparent Clearsight’s experience in our sector was unmatched. Clearsight’s network of global relationships, relentless work ethic and deliberate strategic insights all added value to our deal process. This is a paramount transaction for Devbridge and we are very happy with the outcome and the partnership with Clearsight.”
Philo Tran, Managing Director at Clearsight, commented, “It was a pleasure and a privilege to work with the Devbridge team on this significant transaction for both the Company and the larger product development landscape. The market demand for companies in this space is at an all-time high. Aurimas, Martin, and Devbridge’s executive team have built a truly unique and premium asset. This is a highly strategic and impactful acquisition for Cognizant Softvision and the future looks very bright for them.”
Clearsight Director Alex Johnston added, “The Devbridge team is special – the caliber of this leadership team and organization was striking in every interaction. Our process sought a truly exceptional partnership and the market rewarded the Devbridge team with many compelling options. We are thrilled by their pairing with Cognizant Softvision in what is sure to be a winning combination of market leaders at scale. We look forward to witnessing their joint success.”
The Clearsight deal team included Philo Tran, Alex Johnston, Nathan Birhanu, Michael Slarve and Ashton Mann.