Cognizant (NASDAQ: CTSH), a leading provider of global consulting, software, IT infrastructure and business process services, announced today the official inauguration of its 35th global delivery center in Buenos Aires, Argentina. The new center will support Cognizant's North American customers in a similar time zone, leverage techno-functional and lingual capabilities available in the region to service global customers, and provide a base with deep local insights for Cognizant to service customers in South America.
Other honored guests for the inauguration included Mr. Mauricio Macri, Head of Government of the City of Buenos Aires; Mr. Earl Anthony Wayne, Ambassador of the United States of America; and Mrs. Gloria Gangte, First Secretary of the Indian Embassy in Argentina.
Cognizant's association with Buenos Aires commenced in 2007 with a unique model of co-creating value for Kimberly-Clark Corporation (K-C), jointly working with their local teams. With the association with K-C growing rapidly, and with other marquee customers in key vertical spaces like consumer goods, retail, financial services and insurance evincing interest in leveraging same time zone support, Cognizant has set up the new facility that has the capacity to accommodate approximately 250 professionals.
"Cognizant has delivered on its commitment to provide Kimberly-Clark with a suite of global IT services and has high standards of customer satisfaction and demonstrated capabilities in driving transformational outsourcing programs," said Ramon F. Baez, Chief Information Officer of Kimberly-Clark. "We are pleased to have been instrumental in helping Cognizant become a major presence in Buenos Aires, while taking our IT function to the next higher level. Argentina is a key location in K-C's global sourcing mix."
"Our DNA of having a strong local relationship management with global sourcing capabilities will be strengthened by our new Argentina delivery center," said Francisco D'Souza, president and CEO of Cognizant. "Our investments in newer global, regional and local delivery centers will help our clients seamlessly harness optimal talent globally for providing differentiated value to their end customers. It is truly an exciting time to be in Argentina as the country continues to grow its technology exports, and with our strong talent base in India, we look forward to being a part of the growing relations between India and Argentina as well."
Cognizant's Buenos Aires regional delivery will fully leverage the recently launched Cognizant 2.0 platform. This platform enables all of Cognizant's global, regional and local development centers to seamlessly and virtually collaborate through one central platform using the Web 2.0 technologies and deliver significant time-to-market, cost and transformational value to clients.
Argentina is one of the fast growing economies worldwide due to increased local business demand and government support. The country has high levels of education borne out by its high rate of enrollment and strong output of quality business and technology students in higher education. In addition to cost advantages, sound IT and telecom infrastructure, the country offers a rich IT talent pool with good proficiency in Spanish.
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 more than 35 global delivery centers and over 55,000 employees as of December 31, 2007, 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 is ranked among the top information technology companies in BusinessWeek's Info Tech 100, 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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