Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of global IT and business process outsourcing services, today announced that it has been named to the 2007 InfoTech 100, BusinessWeek's annual ranking of the top technology performers. Of significant importance were two major performance measures where Cognizant outpaced all of its technology outsourcing industry competitors in this year's rankings: 1) jumped up 14 places in overall rankings, which is the highest leap among all technology outsourcing firms, 2) placed as the fastest growing company among all technology outsourcing firms and 9th overall on the "Fastest Growing" sub-list, with a 62% year-over-year revenue growth rate.
The report appears in BusinessWeek's July 2, 2007 issue, with an expanded look on BusinessWeek.com at www.businessweek.com/it100/. BusinessWeek notes that all of the companies in this year's rankings distinguish themselves by their ability to successfully take advantage of growth opportunities in emerging markets and an ability to diversify into new and existing markets.
"We are honored to be ranked among the best known technology companies in the world industry," said Francisco D'Souza, president and CEO, Cognizant. "We have experienced strong growth and ongoing business success in global IT services and share a passion for innovation among the companies that BusinessWeek designates as this year's Info Tech 100. Our passion for making our customers' businesses stronger is evident in the commitment of Cognizant's talented associates around the world and our ability to deliver consistently strong financial performance and value for our shareholders."
BusinessWeek's Info Tech 100 list is based initially on financial data provided by Standard & Poor's Compustat, which maintains financial and operating data on more than 28,000 publicly traded corporations, and narrowed down by industry sector, revenue, sales and performance.
About Cognizant
Cognizant (NASDAQ: CTSH) is a leading provider of global IT and business process outsourcing services. Focused on delivering strategic information technology solutions that address the complex business needs of its clients, Cognizant uses its own on-site/offshore outsourcing model to provide applications management, development, integration, and reengineering; infrastructure management; business process outsourcing; and numerous related services, such as enterprise consulting, technology architecture, program management, and change management.
Cognizant has more than 45,000 employees who 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 on-site client teams. Cognizant maintains P-CMM, SW-CMM and CMMI Maturity Level 5 assessments from an independent third-party assessor and ranked among the top information technology companies in Business Week's Hot Growth Companies and Forbes Global 2000 list. Cognizant is a member of the NASDAQ-100 Index and the S&P 500 Index. Find additional information about Cognizant at www.cognizant.com.
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.
FCMN Contact: scoggin@waggeneredstrom.com
SOURCE: Cognizant Technology Solutions Corporation
CONTACT: media, Kirsten Paragona, Director, Corporate Media Relations,
Cognizant Technology Solutions Corporation, +1-978-356-3342,
Kirsten.paragona@cognizant.com; investors, Scot Hoffman, FD, +1-212-850-5617,
scot.hoffman@fd.com, for Cognizant Technology Solutions Corporation
Web site: http://www.cognizant.com/
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