Cognizant Technology Solutions Announces Formation of Near Shore Development Facility.Business Editors LONDON--(BUSINESS WIRE)--11 June 2002 State-of-the-art TechnoComplex in Ireland is expected to deliver application outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. and other services to Cognizant cog·ni·zant adj. Fully informed; conscious. See Synonyms at aware. [From cognizance.] Adj. 1. clients globally Cognizant Technology Solutions Cognizant redirects here. For a definition of the word see the entry for at Wiktionary Cognizant Technology Solutions (NASDAQ: CTSH) is an information technology services company with headquarters in New Jersey U.S.A. Corporation (Nasdaq: CTSH), a leading application management and e-business solutions provider, has announced the launch of the Company's first near shore software development centre in Limerick Limerick, city, Republic of Ireland Limerick, city (1991 pop. 56,083), seat of Co. Limerick, SW Republic of Ireland, at the head of the Shannon estuary. The city has a port with two docks. , Ireland. Cognizant Technology Solutions Ireland Limited is expected to commence operations with a staff of approximately 70 highly skilled software professionals who will provide a wide range of services to Cognizant's clients in Europe and the rest of the world. The launch of the development facility in Ireland is a further step in Cognizant's previously announced international expansion strategy. As part of the company's strategy in Europe, Cognizant today announced its intention to purchase certain assets from UnitedHealthcare Ireland Limited (UHCI UHCI Universal Host Controller Interface ), a subsidiary of UnitedHealth Group UnitedHealth Group Incorporated NYSE: UNH is a managed health care company. It is the parent of United Healthcare, one of the largest health insurers in the U.S. It was created in 1977, as UnitedHealthCare Corporation (it renamed itself in 1998), but traces its origin to a . In addition, UHCI intends to transfer its existing staff of approximately 70 software development, maintenance and support staff to Cognizant. It is expected that these assets and staff will form the core of Cognizant's presence in Ireland. The transaction will occur upon receipt of regulatory approvals and required consents and execution of definitive agreements. "We look forward to welcoming the members of the UHCI team to the Cognizant family where they will become an integral part of Cognizant's world-wide delivery capabilities. A presence in Ireland will allow us to serve European clients with a near shore facility, better serve our North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. clients who have multi-time zone requirements, and further solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. the business continuity and disaster recovery options available to our global clients," said Francisco D'Souza Francisco D'Souza is the CEO of Cognizant Technology Solutions. He took over from Lakshmi Narayanan who was promoted as the Vice Chairman. Mr. Francisco D'Souza is among the youngest Chief Executive Officers in the software services sector at the age 38. , Senior Vice President of Cognizant. "The opportunity to be part of Cognizant's global delivery organisation will provide additional career opportunities and growth prospects for our employees. We look forward to servicing Cognizant's existing and future customers," said Niamh Frawley, Managing Director of UnitedHealthcare Ireland. "The intended transition of our staff will give Cognizant a core team to establish its presence in Ireland, and we plan to leverage over 15 years of experience in managing an offshore development facility in Ireland to help Cognizant efficiently scale operations as necessary." About UnitedHealth Group UnitedHealth Group (www.unitedhealthgroup.com) is a diversified health and well-being enterprise that provides a full spectrum of resources and services to help people achieve improved health and well-being through all stages of life. UnitedHealth Group is organised into five businesses: UnitedHealthcare, Uniprise, Ovations, Specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. Care Services and Ingenix. About Cognizant Technology Solutions Cognizant Technology Solutions (Nasdaq: CTSH) is a leading provider of custom software development, integration and maintenance services that link e-business with core information systems for companies worldwide. Cognizant operates under a high quality, high value onsite/offshore model that enables better, faster and more cost effective development and deployment of large-scale systems across a wide range of transaction intensive business needs. Its 3,900 employees are committed to partnerships that sustain long-term, proven value in order to win in today's global marketplace. Cognizant was listed as one of the "Best Small Companies in America," by Forbes and as the top solutions provider and one of the top 200 Hot Companies by Business Week. Cognizant has been assessed at SEI/CMM Level 5, the highest possible rating. Cognizant's European headquarters are in London. For more information, visit Cognizant on the web at www.cognizant.com. Certain statements contained herein, including statements regarding the development of the Company's services, markets and future demand for the Company's services, projections on future growth potential, and other statements regarding matters that are not historical facts, are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. (as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995). Such forward-looking statements include risks and uncertainties; consequently, actual results may differ materially from those expressed or implied thereby. Factors that could cause actual results to differ materially include, but are not limited to, variability of quarterly operating results, reliance on large projects, concentration of revenue, ability to attract and retain professional staff, dependence on key personnel, ability to manage growth effectively, risks associated with rapid technological advances, risks associated with possible acquisitions, risks associated with the Company's strategic partnerships, various project-associated risks, substantial competition, general economic conditions, risks associated with intellectual property rights, risks associated with international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and other risk factors listed from time to time in the Company's filings and reports with the Securities and Exchange Commission. |
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