TEANECK, N.J. and HYDERABAD, India, May 7, 2019 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced that it has expanded its research and development (R&D) partnership with AVEVA, a global leader in engineering and industrial software, to develop cutting-edge industrial software that will help shape the future across a range of industries, from water and energy, to food and infrastructure.
The multi-year, multi-million-dollar deal will help customers modernize and implement digital technologies to boost competitiveness, profitability and return on capital. Cognizant's digital, industrial IoT, and product, cloud and software engineering experts will work in close collaboration with AVEVA's industry experts to design and build a wide range of complex engineering and industrial software. The products will span the entire engineering lifecycle, including simulations, design, construction, commissioning, planning, operations management, monitoring and control, as well as performance optimization. Using scaled agile development methodologies and best practices, Cognizant experts will collaborate with AVEVA to accelerate time-to-market for the new software.
This latest engagement expands a 10-year relationship* between the two companies, during which time they have collaborated on several innovative industry-specific solutions for customers in the oil and gas, chemicals, power and utilities, food and beverage, infrastructure and other sectors.
"Our industrial software portfolio is the result of years of industry-leading innovation and business alignment with customers worldwide," said Andrew McCloskey, Chief Technology Officer and Executive Vice President of Research and Development at AVEVA. "Digitally transforming the engineering, operations and asset lifecycle is key for our customers to compete globally, drive growth and gain competitive advantage. Cognizant's global presence, high-end experts, robust delivery framework, and culture of innovation complement our vision for digital transformation."
"Industry 4.0 is here and is now transforming the world of manufacturing. As AVEVA's largest R&D partner, our expanded collaboration will help customers accelerate their Industry 4.0 journey and transform into a 'connected enterprise' with greater reliability, efficiency and safety across their value chain," said Rajaram Radhakrishnan, Global Head for Manufacturing, Logistics, Energy and Utilities at Cognizant. "As information and operational technologies converge, the combination of Cognizant's digital capabilities and AVEVA's deep domain expertise will strengthen our best-in-class solutions, and create new market opportunities. Cognizant and AVEVA are uniquely positioned to innovate on reliable, cost-effective and easy-to-use products that transform core processes, plant engineering, and plant operations."
AVEVA is a global leader in engineering and industrial software driving digital transformation across the entire asset and operations life cycle of capital-intensive industries. The company's engineering, planning and operations, asset performance, and monitoring and control solutions deliver proven results to over 16,000 customers across the globe. Its customers are supported by the largest industrial software ecosystem, including 4,200 partners and 5,700 certified developers. AVEVA is headquartered in Cambridge, UK, with over 4,400 employees at 80 locations in over 40 countries.
Cognizant (Nasdaq-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
*In 2009, Cognizant entered a global product research and development alliance with Invensys Operations Management, a UK-based global provider of technology systems, software solutions and consulting services to the process and manufacturing industries. In 2013, Invensys was acquired by Schneider Electric Software, the industrial and enterprise software solutions business of France-based energy group Schneider Electric. In 2018, UK-based AVEVA merged with Schneider Electric Software, creating an industry-leading portfolio of engineering and industrial software for diverse industries, such as mining, oil and gas, power and utilities, marine, chemicals, life sciences, infrastructure, water and wastewater, and food and beverage.