Cognizant Opens New Development Center in Singapore
SINGAPORE, March 22, 2012 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, today expanded its presence in Singapore with the opening of a new development center. The center was inaugurated by Yeoh Keat Chuan, Assistant Managing Director of the Singapore Economic Development Board, with Louis Mazel, Deputy Chief of Mission at the United States Embassy in the Republic of Singapore, as the guest of honor.
The 30,000-sq.ft. development center located within the Changi Business Park will accommodate approximately 370 professionals and will enhance Cognizant's existing operations in Singapore, which include regional leadership and operational support services for Cognizant's businesses in the Asia-Pacific region. Cognizant services a variety of key industries out of Singapore, including Banking, Insurance, Life Sciences, Manufacturing, Retail and Logistics, Consumer Goods, and Hospitality.
The Singapore development center will leverage the rich talent pool available in Singapore, and will scale up to provide a range of services that help clients drive both efficiency and effectiveness of operations as well as business transformation. As is standard for Cognizant's global development centers, the Singapore center will leverage Cognizant 2.0, a Web 2.0-based platform that enables Cognizant associates worldwide to virtually collaborate and deliver significant time-to-market, cost, and transformational value to clients.
"We warmly welcome Cognizant's decision to establish its development center here," said Yeoh Keat Chuan, Assistant Managing Director of the Singapore Economic Development Board. "The Singapore IT services sector employs over 30,000 people today. We are pleased that Cognizant will add a significant number of good jobs to the sector through this new center. We look forward to working with Cognizant to develop and pilot new technologies in Singapore."
"I congratulate Cognizant on the inauguration of its first development center in Singapore," said Louis Mazel, Deputy Chief of Mission at the United States Embassy in the Republic of Singapore. "Cognizant has built strong credentials in Singapore in a short period of time. With the Asia-Pacific region gaining prominence within the global economy, Singapore has become an ever more important business destination. Cognizant's expanded presence in Singapore will help the Consulting, IT, and BPO industry in Singapore increase its competitiveness and define newer benchmarks."
"We started operations in Singapore in 2005 and have steadily grown our presence and investment in the city-state," said R. Chandrasekaran, Group Chief Executive, Technology and Operations, Cognizant. "Our Singapore center will continue to strengthen our integrated global delivery capabilities, as our investments in new global, regional, and local delivery centers help our clients harness specialized talent globally to meet their requirements and risk preferences, as well as provide business continuity. We are committed to investing in the growth of our Singapore operations and to working closely with the academic community in Singapore to develop talent across our full range of services."
"Our experience in Singapore has been excellent," said Prakash Hemdev, Vice President and Head of Cognizant's ASEAN operations. "With the support of an outstanding university system and local talent pool, our Singapore center will continue to attract technology and business professionals with deep domain expertise. We plan to develop the new facility into a state-of-the-art incubation center for newer technologies and business opportunities, such as mobility and enterprise analytics. The Asia Pacific region is seeing significant adoption of these technologies and defining best practices for corporations globally."
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 137,700 employees as of December 31, 2011, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant.
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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