Amsterdam – December 2, 2003 – Cognizant Technology Solutions (Nasdaq: CTSH), a leading provider of IT services, today announced the acquisition of Infopulse, a Netherlands-based IT services firm specializing in the banking and financial services industry. The Infopulse acquisition allows Cognizant to better serve customers in the Benelux region by adding local client partners, industry expertise, and local language capability. The acquisition further strengthens Cognizant’s industry leading 4th generation offshore delivery model, which has senior executives based close to clients in the US and Europe who are tightly integrated with a robust SEI CMMI Level 5 offshore capability.
“Infopulse has the client base, industry expertise and knowledge of local markets to spearhead our strategy for Benelux,” said Kumar Mahadeva, Chairman and CEO of Cognizant. “Customers in banking and financial services, have been among the first European companies to adopt a large scale offshore strategy, and Infopulse helps Cognizant further strengthen its position in this vertical.”
“This acquisition will help our current customers because they will get large scale offshore capabilities as well as industry specific IT services,” said Wiljo Verbruggen, co-founder of Infopulse, which has for several years leveraged offshore development in Eastern Europe. “Cognizant has a strong track record in the financial sector and also values customer focus, has very high customer satisfaction, and a culture that provides an excellent balance between business and technology.”
About Cognizant Technology Solutions
Cognizant Technology Solutions Corporation (Nasdaq: CTSH) is a leading provider of IT services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant provides applications management, development, integration, and re-engineering, infrastructure management, business process outsourcing, and a number of related services such as enterprise consulting, technology architecture, program management and change management through its onsite/offshore outsourcing model.
Cognizant's more than 8,500 employees are committed to partnerships that sustain long-term, proven value for customers by delivering high-quality, cost-effective solutions through its development centers in India and Ireland, and onsite client teams. Cognizant maintains P-CMM and SEI-CMM Level 5 assessments from an independent third-party assessor and was recently ranked #1 in Forbes' Hot Shots 200 Up & Comers and ranked as the top information technology company in BusinessWeek's Hot Growth Companies. Further information about Cognizant can be found at http://www.cognizant.com.
For further information
Cognizant Technology Solutions Nederland B.V., Leonhard de Planque
Phone: +(31) 020-5247700 or +(31) 06-53949345
E-mail: leonhard.deplanque@cognizant.com or
Irene Management Consultancy B.V., Carroll Florentinus
Phone: +(31) 020-4961500 or +(31) 06-53225853
E-mail: carrollf@tiscali.nl
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. Although Cognizant believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. This information may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Potential risks and uncertainties that could cause or contribute to differences include, but are not limited to: (i) the significant fluctuations of Cognizant's quarterly operating results caused by a variety of factors, many of which are not within Cognizant's control, including (a) the number, timing, scope and contractual terms of application design, development and maintenance projects, (b) delays in the performance of projects, (c) the accuracy of estimates of costs, resources and ti
Additional information on factors that may affect the business and financial results of the companies can be found in filings of the companies made from time to time with the Securities and Exchange Commission.