MEDIA RELEASE PR37464
Cognizant Announces a Global Product Research and Development Relationship with Invensys Rail
TEANECK, N.J. and HYDERABAD, Dec. 9 /PRNewswire-AsiaNet/ --
Signs a five-year, multi-million dollar contract
Relationship extends Cognizant's leadership in the
transportation and logistics industry through an expanded range of solutions
for the rail industry
Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology,
and business process outsourcing services, today announced a global product
research and development relationship with Invensys Rail, a leading
multinational provider of railway control and communications systems.
As a part of this relationship, Cognizant has signed an initial
five-year, multi-million dollar contract with Invensys Rail to serve the
global product R&D needs of its group companies located in the UK, Australia,
Spain, and the USA.
Under the agreement, Cognizant will augment and maintain Invensys Rail's
suite of products, and help the company leverage Cognizant's process maturity
to bring in greater operational efficiency and cost-effectiveness to its
global product R&D processes, improve quality and time-to-market, and enhance
customer experience. To realize this goal, offers to join Cognizant will be
made to over 120 Invensys Rail professionals from its existing R&D center in
Hyderabad.
This relationship will help Cognizant strengthen its presence in the rail
industry by enhancing its ability to provide end-to-end services to rail
customers, and expanding its customer base through industry-leading
competencies in safety-critical application development. Cognizant will
combine its proven domain and technology proficiency with the newly acquired
capabilities in the expanding area of railway automation, control,
protection, and performance management to create an innovation hub for
industry solutions that can help rail customers realize more capacity from
their networks and make rail travel safer, faster, and more reliable.
"This business relationship is highly significant for the ongoing growth
of Invensys Rail in both mature and emerging markets," said James Drummond,
Chief Executive Officer, Invensys Rail. "By enhancing our industry-leading
R&D activities with Cognizant's proven expertise, railways and metro networks
all over the world will be able to benefit from our proven and advanced range
of train control and communication systems with enhanced end user support and
faster product development."
"We are pleased to work with Invensys Rail and welcome on board their
highly talented and experienced professionals in Hyderabad," said Francisco
D'Souza, President and CEO, Cognizant. "Cognizant is committed to leveraging
their specialized expertise, and our own world-class consulting, enterprise
integration, services-based architecture, business intelligence, supply
chain, and product lifecycle management capabilities to help Invensys Rail
develop industry-leading solutions for emerging requirements, create newer
service models, and broaden their services portfolio. We are confident that
we will significantly augment Invensys Rail's ability to innovate and ramp up
the delivery of products. This multi-dimensional relationship will help both
companies solidify our leadership positions in the rail industry."
About Invensys Rail
Invensys Rail, a division of the Invensys Group, is a multinational
leader in delivering state-of-the-art railway control and communication
solutions. The Company enables the world's railways to help meet the ever
increasing demand for rail services by providing a range of solutions that
safely increase the capacity of their networks by increasing frequency and
maximizing operational effectiveness.
Employing over 3,250 employees worldwide, Invensys Rail operates through
a network of regional offices and delivers products and solutions from some
of the most famous names in the rail industry: Westinghouse Rail Systems,
Dimetronic Signals, and Safetran Systems.
Invensys Rail designs, manufactures, supplies, installs, commissions and
maintains a range of safety related rail automation and control systems and
equipment. Its broad offering ranges from highly complex integrated control
centre solutions that supervise and control complete railways, sophisticated
train based systems that automate train operation and protection,
interlocking systems that ensure safe running across a network and a complete
range of trackside products.
The Company's success stems from its ability to provide truly flexible
solutions to help customers face today's challenges such as shorter headways,
lower station dwell times, security and safety, real-time information and
control and asset management. By listening to customers, Invensys Rail has
developed a range of solutions that are future proof, allowing future
modifications, upgrades and enhancements, reducing cost of ownership
significantly.
on the London Stock Exchange (ISYS.L), with approximately 30,000 employees
working in 60 countries.
About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of information technology,
consulting, and business process outsourcing services. 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 over 50 global delivery
centers and more than 68,000 employees as of September 30, 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
+1-781-223-8673
Catherine.marenghi@cognizant.com
or Harsh Kabra
+91-98232-73191
harsh.kabra@cognizant.com
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