Rosenbluth International Awards Five-Year Multi-Million Dollar Application Management Contract to Cognizant Technology Solutions
NEW YORK--(BUSINESS WIRE)--Oct. 21, 1998--Cognizant Technology Solutions Corporation (CTS) (NASDAQ:CTSH - news), an applications outsourcer providing software development and maintenance services to Fortune 1000 companies, today announced that it has been awarded a five-year, multi-million dollar agreement by Rosenbluth International, a leader in the travel industry, to provide maintenance, enhancement, and Year 2000 compliance services.
Under the terms of the agreement, Cognizant Technology Solutions (CTS) will assume responsibility for supporting Rosenbluth International's back office systems. CTS will use its proven on-site/off-shore application management model to coordinate teams located at Rosenbluth International's headquarters in Philadelphia and CTS's software development facilities in India.
''By outsourcing part of our applications portfolio to CTS, we will reduce maintenance and support costs, and free up our people to focus on other important business initiatives,'' explained Neal Bibeau, Vice President of Marketing and Chief Information Officer at Rosenbluth International. ''We chose CTS for its expertise in performing high quality, cost-effective application maintenance. We also expect to leverage CTS' skills in emerging technologies to add value to our applications portfolio. CTS' ability to deliver these services, both on-site and remotely, supports our strategy of building an integrated, global IT function.''
''We are delighted that Rosenbluth International has chosen us as their applications outsourcing partner,'' said Kumar Mahadeva, Chairman and CEO, Cognizant Technology Solutions Corporation. ''This is a perfect example of CTS's strategy to partner with companies on a long-term basis to manage and extend the useful life of core applications while increasing the value and quality of those applications on an ongoing basis. As Rosenbluth International continues to expand its market presence, we will apply our global capabilities to help them meet their goals in a timely and cost-effective manner.''
About Rosenbluth International
Rosenbluth International, headquartered in Philadelphia, Pa., USA, provides comprehensive corporate travel management services worldwide. With annual sales in excess of 3.5 billion USD and more than 4,500 associates, Rosenbluth International owns and manages locations in 27 countries. The privately held company has the second largest travel management presence in the world. Founded in 1892 and recognized as a leader in integrated information management, Rosenbluth International continues to develop innovative business applications and integrated systems which enable it to provide highly personalized service to its clients. The travel management company is also ranked among FORTUNE magazine's 100 Best Companies to Work for in America.
About Cognizant Technology Solutions Corporation
Cognizant Technology Solutions Corporation (CTS) delivers high-quality, cost-effective, full life cycle solutions to complex software development and maintenance problems. Using an extraordinary pool of over 1,400 computer science and engineering professionals located at client sites and at seven development centers in India, the company's offerings include application development, maintenance and re-engineering, as well as year 2000 and Euro currency compliance services. CTS core competencies extend across a range of technologies encompassing data warehousing, Internet, object-oriented development, client/server and legacy platforms. For more information, visit CTS on the web at cts-corp.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. Although Cognizant believes the expectations contained in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove correct. These statements may involve risks and uncertainties that could cause actual results to differ materially from the expected results. Such risks include, but are not limited to, the risk factors described in Cognizant's Registration Statement on Form S-1 and in other reports and periodic filings made from time to time with the Securities and Exchange Commission
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