Cognizant (NASDAQ: CTSH), a leading provider of global IT and business process outsourcing services, and Ordina (EURNEXT NV: ORDI), one of the fastest- growing and largest services providers in consulting, ICT and outsourcing in the Netherlands and Belgium, today announced that they have entered into a major outsourcing arrangement with Rabobank, the largest banking group in the Netherlands.
Cognizant and Ordina will collaborate to deliver outsourced services as part of a seven-year arrangement with Rabobank Group, encompassing application design, development and testing services. As a key partner in this arrangement, Cognizant will manage the onsite/offshore delivery of services. Other terms of the arrangement were not disclosed.
Piet van Schijndel, a member of the Board of Management of Rabobank Group: "Our decision-making hinges on continuity of employment and services. Many of our systems will be replaced over the next few years. Dutch-based Ordina offers good services, as well as career perspectives for our employees. Cognizant has been one of our offshore service providers for some time now and has proved to deliver quality services."
"This agreement confirms our leading position in the ICT and outsourcing market in the Netherlands," said Ronald Kasteel, Chief Executive Officer, Ordina. "Our strategic partnership in the Benelux with Cognizant means that we have a strong offshore proposition. Ordina's Benelux market leadership and in- depth knowledge of the financial services market and system development capabilities, combined with Cognizant's global delivery platform, deep financial services industry and technology expertise, will provide an integrated value proposition for Rabobank, helping the bank achieve its strategic business objectives."
"This key customer win allows us to extend our long-standing relationship with Rabo via Ordina, and it demonstrates the advantages of leveraging Ordina's local market leadership and expertise in Financial Services in the Benelux and Cognizant's global delivery model to deliver maximum value, while enabling the bank to focus its key IT resources on innovation and business transformation," said Francisco D'Souza, president and CEO of Cognizant. "Additionally, our partnership with Ordina further underscores our commitment to expanding Cognizant's presence in key European markets and enables the two companies to jointly pursue strategic client relationships through the strength of our combined business models."
Press contacts: Ordina N.V.: Mr. Ronald Kasteel, CEO, +31 (0) 30 663 7006 Netherlands:
Hella van Leeuwen, Zeno Group, +31 (0) 20 30 10 989, firstname.lastname@example.org
Lauren Valbert, Cognizant, +31 (0) 6 127 10 828, email@example.com
David Cotterill, Cognizant, +44 (0) 791 953 63 46, firstname.lastname@example.org
Dan Chappell, Brands2Life, +44 (0)7808 572512, email@example.com
Paul Hope, Cognizant, +44 (0) 207 321 4882, firstname.lastname@example.org North America:
Richard Jones, Waggener Edstrom, +1 203 353 7031, email@example.com
Kirsten Paragona, Cognizant, +1 201 673 8379, firstname.lastname@example.org
India/Asia: Ramkumar Ramamoorthy, Cognizant, + 91 98 400 39500, email@example.com About Rabobank
The Rabobank Group comprises 188 independent local cooperative Rabobanks in the Netherlands plus their central organisation Rabobank Nederland and its subsidiaries. Rabobank serves more than 9 million private individuals and corporate clients in the Netherlands and a growing number abroad. It employs over 56,000 staff and is represented in 42 countries. The Rabobank Group has the highest credit rating (AAA), awarded by the well-known international rating agencies Moody's and Standard & Poor's. In terms of Tier 1 capital, the organisation ranks among the world's fifteen largest financial institutions.
With our more than 5,000-strong workforce, Ordina aims to improve the business processes of Dutch and Belgian enterprises by providing advisory services, developing supporting applications or taking on a wide range of processes, including ICT. Ordina N.V. was incorporated in 1973. Ordina N.V. shares are quoted on Amsterdam's Euronext Stock Exchange, where they are included in the Midkap Index.
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 over 43,000 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. 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.
CONTACT: Malcolm Frank SVP, Marketing and Strategy 617-273-9282 firstname.lastname@example.org Investors/Financial Media: Scot Hoffman FD 212-850-5617 email@example.com
First Call Analyst:
FCMN Contact: firstname.lastname@example.org
CONTACT: Malcolm Frank, SVP, Marketing and Strategy of Cognizant,
+1-617-273-9282, email@example.com; or Investors/Financial Media:
Scot Hoffman of FD, +1-212-850-5617, firstname.lastname@example.org, for Cognizant
Web site: http://www.cognizant.com/