TEANECK, New Jersey and BUDAPEST, Hungary, October 7 /PRNewswire/ --
Cognizant (Nasdaq: CTSH), a leading provider of global consulting, technology and business process services, announced today the opening of its delivery center in Budapest, Hungary.
The new center will support Cognizant's European customers with near-shore services in a similar time zone, leverage techno-functional and multilingual capabilities available in the region to service the IT and business process outsourcing (BPO) needs of Global 2000 companies, and provide a base with deep local insights for Cognizant to service customers in Central and Eastern Europe.
Cognizant's association with Budapest commenced earlier this year with Clinical Data Management (CDM) services to AstraZeneca, one of the world's largest pharmaceutical companies, widely recognized for its life-changing medicines. In addition to AstraZeneca, the new Budapest delivery center provides application development and maintenance services to a leading consumer products goods manufacturer, and system architecture and quality assurance services to a re-insurance firm.
Eric Terhaerdt, VP of AstraZeneca's Clinical US operations said: "We're pleased to be working with Cognizant, whose data management operations in Budapest will ensure our global teams can share best practice and help us to continue to achieve the highest quality clinical data results."
Like all of Cognizant's delivery centers, the Budapest facility will leverage Cognizant 2.0, a Web 2.0-based platform that enables Cognizant resources worldwide to virtually collaborate and deliver significant time-to-market, cost and transformational value to clients.
"Our delivery center in Hungary is part of our endeavor to offer clients strong local relationship management with robust global services capabilities," 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 while meeting their requirements and risk preferences as well as provide business continuity. Budapest enables us to expand our service offerings in Europe in compliance with European Union regulations governing access to customer environments and data within EU countries."
Eastern Europe is a fast growing IT destination today due to increased demand from European companies for shared-service centers that can operate in European languages, good connectivity and ease of travel demanded by new global sourcing functions requiring more interaction, favorable government policies and procedures, cultural compatibility with Western Europe, and positive long-term economic, political and social outlook. In addition to cost advantages, sound IT and telecom infrastructure, the region offers a rich pool of employable talent with strong proficiency in German and English, and good domain skills, especially in the Life Sciences, Financial Services and Manufacturing industries.
AstraZeneca is a major international healthcare business engaged in research, development, manufacturing and marketing of prescription pharmaceuticals and supplier for healthcare services. AstraZeneca is one of the world's leading pharmaceutical companies with healthcare sales of US $29.55 billion and is a leader in gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection product sales. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4Good Index. For more information, visit www.astrazeneca.com.
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 59,000 employees as of June 30, 2008, we combine a unique onsite/offshore delivery model infused with 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.
Media, Alan Alper, Corporate Marketing and Communications, +1-201-658-9041, firstname.lastname@example.org; European Contact: Harsh Kabra, Corporate Marketing and Communications, +36-30-8702952, email@example.com, both of Cognizant