Deutsche Telekom's enterprise customer division, T-Systems, and global consulting, technology and business process outsourcing provider, Cognizant (NASDAQ: CTSH), today announced an agreement with Continental, one of the top automotive suppliers worldwide, to jointly provide application management services to the research and development operations of Continental's tire divisions in Hanover beginning 2009.
As part of the three-year contract, the partners will replace Continental's current service provider of over ten years. Cognizant will provide the bulk of the services from India. With all services being covered under a fixed price, Continental will achieve a high level of cost transparency, and save significant administration and maintenance costs of its Computer-Aided Design (CAD) systems. The comprehensive external support will enable the tire manufacturer to boost efficiencies by freeing up its IT staff to focus on further IT development for the company's core business.
"Profitable growth and consistent cost management in all business areas are the basis of our success as a company. T-Systems' business model is another building block of this success," said Elisabeth Hoeflich, CIO of the Continental tire divisions.
"Our expertise and a strong alliance with Cognizant are the keys to reliable global outsourcing at competitive prices," said Joachim Langmack, responsible for business customers at T-Systems. "The contract with Continental shows that the alliance between T-Systems and Cognizant continues to bear fruit, as we won the deal against stiff competition. At the same time, it also allows us to consolidate our position in the automotive market."
"Our complementary capabilities of deep industry expertise, scale of operations, and market-leading global delivery platform will help Continental rationalize their operating costs and reinvest the savings into their core business," said Santosh Thomas, Vice-President and Head of Continental European Operations, Cognizant. "The highlight of our alliance is our ability to synergistically go-to-market and provide customers like Continental a unique value proposition of local knowledge coupled global reach and expertise."
With a global infrastructure of computer centers and networks, T-Systems operates information and communications technology (ICT) for multinational corporations and public institutions. On this basis, Deutsche Telekom's corporate-customer unit offers integrated solutions for the connected future of business and society. Some 46,000 employees combine industry expertise and ICT innovations to add noticeable value to their customers' core business all over the world. T-Systems generated revenue of around EUR 12 billion in the 2007 financial year.
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 40 global delivery centers and approximately 59,500 employees as of September 30, 2008, 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.
The Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. Today, the corporation employs approximately 150,000 people at nearly 200 locations in 36 countries. Further information is available at: www.continental-corporation.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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