Cognizant (NASDAQ: CTSH), a leading provider of consulting, technology, and business process outsourcing services, today announced a global product research and development alliance with Invensys Operations Management, a global provider of technology systems, software solutions and consulting services to the process and manufacturing industries.
As a part of this relationship, Cognizant has signed an initial five-year, multi-million dollar contract with Invensys Operations Management to augment and maintain Invensys' suite of products, and bring in greater operational efficiency, scalability, consistency and cost-effectiveness to its global product R&D processes. To realize this goal, offers to join Cognizant will be made to over 400 Invensys Operations Management professionals from its existing R&D center in Hyderabad.
This relationship will strengthen Cognizant's strong presence in the manufacturing industry and strengthen its ability to provide end-to-end services to its customers. It will enable Cognizant to further expand its customer base in discrete manufacturing, process manufacturing, energy and utilities, pharmaceutical, and consumer goods segments with services and offerings in Product Lifecycle Management (PLM), Manufacturing Operations Management (MOM), and Enterprise Asset Management (EAM). These offerings will be supported through global engineering services in the areas of product design and development, industrial automation and control, and asset reliability engineering, leveraging Cognizant's proven global delivery model and presence around the world to provide localized and industry-specific skills.
"This relationship is significant," said Sudipta Bhattacharya, Chief Executive Officer and President, Invensys Operations Management. "The manufacturing technology market is at an inflection point as companies move to seamlessly stitch plant floor applications to enterprise applications to access and act on real-time manufacturing information. There is significant innovation happening at this intersection of the real-time manufacturing execution world and the transaction based enterprise world. In Cognizant we have found a partner who shares our vision around where the market is headed for the next generation of engineering services and manufacturing operations solutions, and brings synergistic product development and software engineering capabilities and leading edge tools like Cognizant 2.0 to realize this vision. We expect to be able to learn from the strengths each of us brings to the table."
"We are pleased to partner with Invensys Operations Management and welcome on board their highly talented and experienced professionals in Hyderabad," said Francisco D'Souza, President and CEO, Cognizant. "Cognizant is committed to working with Invensys Operations Management by leveraging these talented individuals, and we are confident we will significantly augment Invensys' ability to innovate and ramp up the delivery of products by blending that talent with our own world-class consulting, enterprise integration, services-based architecture, business intelligence, supply chain and product lifecycle management capabilities. This multi-dimensional relationship, along with the domain expertise that Invensys Operations Management provides, will help both companies solidify our leadership positions in the manufacturing space, expand our range of capabilities in engineering services, and jointly drive further growth in many of the verticals where we have, and will continue to demonstrate, thought leadership. We believe such collaborative innovation is the wave of the future and we are excited at the possibilities that will come about through this relationship."
About Invensys Operations Management
Invensys Operations Management, a division of Invensys, is a leading provider of automation and information technology, systems, software solutions, services and consulting to the global manufacturing and infrastructure industries. Headquartered in Plano, Texas, its solutions are used by more than 40,000 clients around the world in more than 200,000 plants and facilities and include control and measurement instrumentation, critical safety and distributed control systems, a wide range of real-time operations management software and professional services that help its clients design, operate and manage the safety, efficiency, productivity, sustainability and profitability of their assets.
Invensys clients are some of the world's most important industrial organizations -- large oil refineries; chemical, gas, LNG, power, pharmaceutical and mineral processors; food and beverage companies; metals and mining companies; water and wastewater facilities; and pulp and paper mills -- and its solutions deliver significant cost benefits associated with the secure, efficient operation of industrial plants and facilities.
Invensys Operations Management's offerings are delivered under several prominent industry brands, including Action Instruments, ArchestrA, Avantis, Barber-Colman, Chessell, Continental, Eurotherm, Foxboro, IMServ, InFusion, SimSci-Esscor, Triconex and Wonderware. The company's approximately 9,000 employees and its global partner ecosystem integrate these products and services to help clients collaborate across systems and enterprises in real time, extracting critical data to make faster, better decisions and synchronize their operations from the plant floor to the executive offices, aligning production goals with business objectives. To learn more about Invensys Operations Management, visit www.invensys.com.
Invensys plc (www.invensys.com) is headquartered in London and is listed on the London Stock Exchange (ISYS.L), with approximately 25,000 employees working in 60 countries.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services. Recognized by Fortune Magazine as one of the World's Most Admired Companies, 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 more than 50 global delivery centers and approximately 63,700 employees as of March 31, 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 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.
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