Cognizant Formally Inaugurates Delivery Center in Hungary to Meet Global 2000 Clients' European Near-shore IT, BPO Needs



    TEANECK, N.J. and BUDAPEST, Hungary, Oct. 7 /CNW/ -- 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.
    

    About AstraZeneca
    
    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.
    

    About Cognizant
    
    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.
    

    Forward-Looking Statements
    
    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.
    


    




For further information:

For further information: Media, Alan Alper, Corporate Marketing and
Communications, +1-201-658-9041, alan.alper@cognizant.com; European Contact:
Harsh Kabra, Corporate Marketing and Communications, +36-30-8702952,
harsh.kabra@cognizant.com, both of Cognizant Web Site:
http://www.astrazeneca.com                 http://www.cognizant.com

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