Cognizant (Nasdaq: CTSH), a leading provider of consulting, technology, and business process outsourcing services, today announced a global product research and development relationship with Invensys Rail, a leading multinational provider of railway control and communications systems.
As a part of this relationship, Cognizant has signed an initial five-year, multi-million dollar contract with Invensys Rail to serve the global product R&D needs of its group companies located in the UK, Australia, Spain, and the USA.
Under the agreement, Cognizant will augment and maintain Invensys Rail's suite of products, and help the company leverage Cognizant's process maturity to bring in greater operational efficiency and cost-effectiveness to its global product R&D processes, improve quality and time-to-market, and enhance customer experience. To realize this goal, offers to join Cognizant will be made to over 120 Invensys Rail professionals from its existing R&D center in Hyderabad.
This relationship will help Cognizant strengthen its presence in the rail industry by enhancing its ability to provide end-to-end services to rail customers, and expanding its customer base through industry-leading competencies in safety-critical application development. Cognizant will combine its proven domain and technology proficiency with the newly acquired capabilities in the expanding area of railway automation, control, protection, and performance management to create an innovation hub for industry solutions that can help rail customers realize more capacity from their networks and make rail travel safer, faster, and more reliable.
"This business relationship is highly significant for the ongoing growth of Invensys Rail in both mature and emerging markets," said James Drummond, Chief Executive Officer, Invensys Rail. "By enhancing our industry-leading R&D activities with Cognizant's proven expertise, railways and metro networks all over the world will be able to benefit from our proven and advanced range of train control and communication systems with enhanced end user support and faster product development."
"We are pleased to work with Invensys Rail and welcome on board their highly talented and experienced professionals in Hyderabad," said Francisco D'Souza, President and CEO, Cognizant. "Cognizant is committed to leveraging their specialized expertise, and our own world-class consulting, enterprise integration, services-based architecture, business intelligence, supply chain, and product lifecycle management capabilities to help Invensys Rail develop industry-leading solutions for emerging requirements, create newer service models, and broaden their services portfolio. We are confident that we will significantly augment Invensys Rail's ability to innovate and ramp up the delivery of products. This multi-dimensional relationship will help both companies solidify our leadership positions in the rail industry."
About Invensys Rail
Invensys Rail, a division of the Invensys Group, is a multinational leader in delivering state-of-the-art railway control and communication solutions. The Company enables the world's railways to help meet the ever increasing demand for rail services by providing a range of solutions that safely increase the capacity of their networks by increasing frequency and maximizing operational effectiveness.
Employing over 3,250 employees worldwide, Invensys Rail operates through a network of regional offices and delivers products and solutions from some of the most famous names in the rail industry: Westinghouse Rail Systems, Dimetronic Signals, and Safetran Systems.
Invensys Rail designs, manufactures, supplies, installs, commissions and maintains a range of safety related rail automation and control systems and equipment. Its broad offering ranges from highly complex integrated control centre solutions that supervise and control complete railways, sophisticated train based systems that automate train operation and protection, interlocking systems that ensure safe running across a network and a complete range of trackside products.
The Company's success stems from its ability to provide truly flexible solutions to help customers face today's challenges such as shorter headways, lower station dwell times, security and safety, real-time information and control and asset management. By listening to customers, Invensys Rail has developed a range of solutions that are future proof, allowing future modifications, upgrades and enhancements, reducing cost of ownership significantly.
To learn more about Invensys Rail, visit http://www.invensysrail.com/.
Invensys plc (www.invensys.com) is headquartered in London and is listed on the London Stock Exchange (ISYS.L), with approximately 30,000 employees working in 60 countries.
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 over 50 global delivery centers and more than 68,000 employees as of September 30, 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.