Cognizant (NASDAQ: CTSH), a leading provider of consulting, technology, and business process outsourcing services, today announced that it has been selected by mjunction services limited, one of India's largest e-commerce companies that also runs the world's largest e-marketplace for steel, to develop scalable e-commerce infrastructure for its online retail, auction, and automobile portals, thereby helping the company to increase its market share.
As part of the engagement, Cognizant will develop an online store that will transform the sale of branded items and support newer business models envisioned by mjunction, encompassing support services such as advertising, subscription, and classifieds. The automobile portal will serve as a one-stop online shop for consumers looking for comprehensive information about cars. Cognizant will also develop an online B2B auction site for mjunction, which can be used for large-scale auctions by the retail, manufacturing, and fixed asset management businesses.
"Our relationship with Cognizant will allow mjunction to harness Cognizant's rich experience in managing high-velocity, high-transaction-volume e-commerce applications for global customers," said Viresh Oberoi, Managing Director of mjunction services limited. "We are impressed with Cognizant's deep understanding of our business vision, expectations, and technical challenges, and Cognizant's ability to provide business consulting on the various business processes envisioned by mjunction."
"We are pleased to have been selected by mjunction to develop their e-commerce infrastructure," said R. Chandrasekaran, President and Managing Director, Global Delivery, Cognizant. "Leveraging Cognizant's Business Consulting practice and deep technology expertise that we have garnered working with path-breaking e-commerce companies, we are committed to be a transformational partner driving powerful thought leadership and aligning business operations and IT to help our clients define industry trends while enhancing their operations and efficiency.
"We look forward to working with mjunction to help them diversify their product offerings and associated services, generate revenues from new business models, and venture into new lines of product sales and online services," added Chandrasekaran. "This engagement is a testament to the success we are seeing from the investments we are making in the domestic market in India. Cognizant is committed to continued investments in emerging markets to further globalize our business and support our global customers around the world."
mjunction services limited, founded in February 2001, offers a wide range of e-selling, e-sourcing and knowledge services across diverse industry verticals that empower businesses with greater process efficiencies. mjunction is today not only India's largest e-commerce company (having e-transacted goods and services worth over Rs.45,193 crore to date), but also runs the world's largest e-marketplace for steel. The selling and sourcing services that mjunction offers do not just stop here, they go all the way to provide fulfillment services like inspection and finance. mjunction has service offerings spanning the entire e-commerce spectrum and operates through metaljunction.in, buyjunction.in, coaljunction.in, financejunction.in, valuejunction.in, autojunction.in, straightline.in, and mjunctionedge. For more information, visit http://www.mjunction.in/.
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 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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