MEDIA RELEASE PR35407
Cognizant Announces a Global Product Research and Development Relationship with Invensys Operations
Management
TEANECK, N.J. and HYDERABAD, India, July 16 /PRNewswire-AsiaNet/ --
Signs a five-year, multi-million dollar contract
Relationship extends Cognizant's leadership in the manufacturing industry
through an expanded range of solutions in engineering services
Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology,
and business process outsourcing services, today announced a global product
research and development alliance with Invensys Operations Management, a
global provider of technology systems, software solutions and consulting
services to the process and manufacturing industries.
As a part of this relationship, Cognizant has signed an initial
five-year, multi-million dollar contract with Invensys Operations Management
to augment and maintain Invensys' suite of products, and bring in greater
operational efficiency, scalability, consistency and cost-effectiveness to
its global product R&D processes. To realize this goal, offers to join
Cognizant will be made to over 400 Invensys Operations Management
professionals from its existing R&D center in Hyderabad.
This relationship will strengthen Cognizant's strong presence in the
manufacturing industry and strengthen its ability to provide end-to-end
services to its customers. It will enable Cognizant to further expand its
customer base in discrete manufacturing, process manufacturing, energy and
utilities, pharmaceutical, and consumer goods segments with services and
offerings in Product Lifecycle Management (PLM), Manufacturing Operations
Management (MOM), and Enterprise Asset Management (EAM). These offerings will
be supported through global engineering services in the areas of product
design and development, industrial automation and control, and asset
reliability engineering, leveraging Cognizant's proven global delivery model
and presence around the world to provide localized and industry-specific
skills.
"This relationship is significant," said Sudipta Bhattacharya, Chief
Executive Officer and President, Invensys Operations Management. "The
manufacturing technology market is at an inflection point as companies move
to seamlessly stitch plant floor applications to enterprise applications to
access and act on real-time manufacturing information. There is significant
innovation happening at this intersection of the real-time manufacturing
execution world and the transaction based enterprise world. In Cognizant we
have found a partner who shares our vision around where the market is headed
for the next generation of engineering services and manufacturing operations
solutions, and brings synergistic product development and software
engineering capabilities and leading edge tools like Cognizant 2.0 to realize
this vision. We expect to be able to learn from the strengths each of us
brings to the table."
"We are pleased to partner with Invensys Operations Management and
welcome on board their highly talented and experienced professionals in
Hyderabad," said Francisco D'Souza, President and CEO, Cognizant. "Cognizant
is committed to working with Invensys Operations Management by leveraging
these talented individuals, and we are confident we will significantly
augment Invensys' ability to innovate and ramp up the delivery of products by
blending that talent with our own world-class consulting, enterprise
integration, services-based architecture, business intelligence, supply chain
and product lifecycle management capabilities. This multi-dimensional
relationship, along with the domain expertise that Invensys Operations
Management provides, will help both companies solidify our leadership
positions in the manufacturing space, expand our range of capabilities in
engineering services, and jointly drive further growth in many of the
verticals where we have, and will continue to demonstrate, thought
leadership. We believe such collaborative innovation is the wave of the
future and we are excited at the possibilities that will come about through
this relationship."
About Invensys Operations Management
Invensys Operations Management, a division of Invensys, is a leading
provider of automation and information technology, systems, software
solutions, services and consulting to the global manufacturing and
infrastructure industries. Headquartered in Plano, Texas, its solutions are
used by more than 40,000 clients around the world in more than 200,000 plants
and facilities and include control and measurement instrumentation, critical
safety and distributed control systems, a wide range of real-time operations
management software and professional services that help its clients design,
operate and manage the safety, efficiency, productivity, sustainability and
profitability of their assets.
Invensys clients are some of the world's most important industrial
organizations -- large oil refineries; chemical, gas, LNG, power,
pharmaceutical and mineral processors; food and beverage companies; metals
and mining companies; water and wastewater facilities; and pulp and paper
mills -- and its solutions deliver significant cost benefits associated with
the secure, efficient operation of industrial plants and facilities.
Invensys Operations Management's offerings are delivered under several
prominent industry brands, including Action Instruments, ArchestrA, Avantis,
Barber-Colman, Chessell, Continental, Eurotherm, Foxboro, IMServ, InFusion,
SimSci-Esscor, Triconex and Wonderware. The company's approximately 9,000
employees and its global partner ecosystem integrate these products and
services to help clients collaborate across systems and enterprises in real
time, extracting critical data to make faster, better decisions and
synchronize their operations from the plant floor to the executive offices,
aligning production goals with business objectives. To learn more about
on the London Stock Exchange (ISYS.L), with approximately 25,000 employees
working in 60 countries.
About Cognizant
Cognizant (Nasdaq: CTSH) is a leading provider of information technology,
consulting, and business process outsourcing services. Recognized by Fortune
Magazine as one of the World's Most Admired Companies, Cognizant's
single-minded passion is to dedicate our global technology and innovation
know-how, our industry expertise, and worldwide resources to working together
with clients to make their businesses stronger. With more than 50 global
delivery centers and approximately 63,700 employees as of March 31, 2009, we
combine a unique onsite/offshore delivery model infused by a distinct culture
of customer satisfaction. A member of the NASDAQ-100 Index and S&P 500 Index,
Cognizant is a Forbes Global 2000 company and a member of the Fortune 1000
and is ranked among the top information technology companies in
BusinessWeek's Hot Growth and Top 50 Performers listings. Visit us online at
Forward-looking Statements
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. Factors that could cause actual
results to differ materially from those expressed or implied include general
economic conditions and the factors discussed in our most recent 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.
SOURCE: Cognizant
CONTACT: Catherine Marenghi,
Public Relations,
+1-781-223-8673,
catherine.marenghi@cognizant.com, or
Harsh Kabra,
+91-20-40223866,
harsh.kabra@cognizant.com,
both of Cognizant
(CTSH ISYS.L)
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