Cognizant Technology Solutions
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| Type | Public (NASDAQ: CTSH) |
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| Founded | 1994 |
| Headquarters | Teaneck, New Jersey, United States |
| Key people | Lakshmi Narayanan (Vice Chairman) Francisco D'Souza (President & CEO) |
| Industry | IT Services |
| Revenue | ▲ US$ 2.816 billion (2008)[1] |
| Operating income | ▲ US$ 516.6 million (2008)[1] |
| Net income | ▲ US$ 430.8 million (2008)[1] |
| Total assets | ▲ US$ 2.374 billion (2008)[1] |
| Total equity | ▲ US$ 1.965 (2008)[1] |
| Employees | 68,000+ |
| Website | Cognizant.com Cognizant homepage - Chinese Cognizant homepage - Japanese |
Cognizant (NASDAQ: CTSH) is a information technology services and consulting company with headquarters in Teaneck, New Jersey, United States and with significant operations in Chennai, India.
Cognizant has been named to the 2009 Fortune 100 Fastest-Growing Companies List for the seventh consecutive year[2]. Cognizant has also been named to the Fortune 1000 and Forbes Global 2000 lists for 2009. It has consistently ranked among the fastest growing companies including the 2009 Business Week 50 list of the top-performing U.S. companies, the BusinessWeek Hottest Tech Companies 2009, and the Forbes Fast Tech 2009 list of 25 Fastest Growing Technology Companies In America.
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[edit] History
The company was started in 1994, as an in-house IT services unit of the Dun & Bradstreet Corporation (D&B) and its operating units. Initially a joint venture between Dun & Bradstreet (76%) and Satyam Computer Services Ltd. (24%), it soon became a 100% subsidiary of D&B Corp. In 1996, the company became a division of the Cognizant Corporation, after the split-up of Dun & Bradstreet Corporation.
In June 1998, Cognizant Corporation was again split into independent companies, and Cognizant Technology Solutions was formed as a division of IMS Health, a provider of information solutions to the pharmaceutical and healthcare industries. The same year, the company completed its initial public offering and was listed on the NASDAQ. In November 2002, IMS Health divested its majority interest in Cognizant through a tax-free split-off.
In its early years, Cognizant's clientele primarily comprised the sister companies in the Dun and Bradstreet group of companies and the services were focused on Y2K compliance, Application Support and Maintenance (predominantly in client server and mainframe applications). With the turn of the new millennium, Cognizant successfully expanded its client base to Fortune 500 customers in Financial Services, Insurance, Healthcare, Information, Media and Entertainment, Retail and Manufacturing and diversified its services to new technologies and Internet based applications. The company currently serves over 600 customers across nine industry verticals.
The company has been one of the fastest growing in the IT services segment, and the fastest among global IT services companies to cross the $1 billion (USD) revenue mark. Along the way, it has received significant recognition by industry analysts and has become a member of the prestigious NASDAQ-100 and S&P 500 Index among other accolades.
[edit] Operations
Even though it is headquartered in New Jersey, USA, most of Cognizant's employees are based in India. It has offices in Chennai, Bangalore, Coimbatore, Hyderabad, Kolkata, Mumbai, Pune, Gurgaon, Kochi and Budapest since 2008, development centers in Shanghai, Buenos Aires and Amsterdam. Cognizant has over 64,000 employees. Cognizant Coimbatore center became the first company in the world to be certified for CMMI-Level5 per the latest model.[1]
Cognizant has aligned its businesses vertically and has clients in
- Banking & Financial Services
- Consumer Goods
- Healthcare
- Travel & Hospitality
- Information, Media & Entertainment
- Insurance
- Life Sciences
- Manufacturing & Logistics
- Retail
- Telecommunications
- Technology
In addition to its industry-vertical focus, Cognizant also provides speciality technology services through its horizontal expertise such as business analytics, business intelligence, IT infrastructure services, business process outsourcing (BPO), performance management, data warehousing, customer relationship management (CRM), enterprise resource planning (ERP), testing, and many other areas.
[edit] Financial Health
Cognizant has seen year-over-year revenue growth of 32% in calendar year 2008, from $2.13 billion to $2.81 billion (USD). This growth has been realized across all the industries Cognizant serves including financial services, healthcare, retail, manufacturing and logistics.
After the close of trading on 16 November 2006, Cognizant moved from the mid cap S&P 400 to the S&P 500.
[edit] Acquisitions
- On October 15th 2009 Cognizant acquired UBS India Service Centre Private Limited (UBS ISC), the Hyderabad, India-based captive service provider to the UBS Group.
- On September 8th 2009 Cognizant announced the acquisition of substantially all of the assets of Pepperweed Advisors, the IT consulting services division of Pepperweed Consulting.
- On November 16th 2007 Cognizant announced the acquisition of NJ-based marketRx, Inc., a leading provider of analytics and related software services to global Life Sciences companies in the pharmaceutical, biotechnology and medical devices segment
- On Apil 18th 2005 Cognizant announced it has acquired all the assets of Chicago-based Fathom Solutions, L.L.C, for a total consideration of $35 million.
[edit] Competition
Cognizant operates in the IT services, business process outsourcing and consulting domains. Its primary competitors are Accenture, UST Global , IBM, Capgemini, Tata Consultancy Services, Infosys and Wipro.
Other competitors include IT services companies such as Computer Sciences Corporation, Perot Systems, Mahindra Satyam and HCL Technologies. Competitors in the Business Process Outsourcing space include Genpact and MphasiS (a division of EDS)
[edit] Corporate Social Responsibility
Project Outreach: This initiative has been undertaken to improve education worldwide through voluntary efforts of Cognizant employees and financial and administrative support of the organization.
[edit] Recent news
- Cognizant Deploys IT Infrastructure Services at Rodale[3]
- Cognizant Expands Phoenix Delivery Center[4]
- Cognizant acquires Pepperweed Advisors[5]
[edit] References
- ^ a b c d e "Financial Tables". Cognizant Technology Solutions Investor Relations. http://finance.yahoo.com/q/is?s=CTSH&annual. Retrieved 2009-01-23.
- ^ Fortune 100 Fastest-Growing Companies 2009
- ^ Cognizant Deploys IT Infrastructure Services at Rodale to Reduce Costs, Increase Efficiency, Improve Customer Experience
- ^ Cognizant Expands Phoenix Delivery Center to Offer Business Process Outsourcing Services
- ^ Cognizant Acquires Pepperweed Advisors; Deepens Business Consulting Capability in IT Infrastructure Services
[edit] External links
- Cognizant official website
- Fortune 1000 ranking 2009
- Forbes Global 2000 ranking 2009
- Businessweek 50 Profile 2009
- Fortune's Fastest-Growing Companies (2009)
- Cognizant Technology financial snapshot at Google Finance
- Cognizant Technology Solutions company profile - Reuters
