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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (7105)	9/23/1999 2:09:00 AM
From: Mohan Marette	Respond to of 12475

CompanyWatch-Cognizant Technology Solutions (Sets aside $20 mil for acquisition) Cognizant Website cts-corp.com Meet the 'boys' behind the company cts-corp.com =========================== Cognizant to spend $20m on acquisitions Sudipto Dey (Financial Express) New Delhi, Sept 22: Chennai-based Cognizant Technology Solutions is on the look out for acquisitions in the e-business space. The Rs 290-crore software solutions company has earmarked around $20 million to acquire companies in the US and India over the next six months. Cognizant has also chalked out a strategy to enter the Indian market to help companies e-engineer their businesses. Speaking to The Financial Express, Cognizant Technology Solutions director Naresh Nagarajan said Cognizant is looking at companies offering e-commerce business solutions, with a turnover of $5-10 million. "The companies should either have developed e-commerce-based technologies or have a good client base," said Nagarajan. The former would give Cognizant a technology edge while the latter would help to strengthen its marketing muscles, officials said. Talks are already on with several small companies, Nagarajan added.Cognizant offers services in internet technologies, datawarehousing and component-based development.The target sectors for Cognizant are insurance, financial services, media, healthcare and information-based services, officials said. Cognizant recently announced plans to enter the Indian market to help domestic companies e-engineer their businesses. As part of the strategy, the company would offer high-end e-business consulting and implementation services that would help businesses move on to the Web, officials added. Cognizant would act as a strategic business partner and help companies establish an e-presence, right from strategy to the deployment stage.With its India-thrust, Cognizant plans to increase its revenue by 60 per cent in 1999-2000. Officials said that Cognizant has been offering e-business and e-commerce solutions to large corporations in the US and Europe. It now plans to leverage its world-wide experience and offer the same to Indian companies.According to officials, Cognizant sees the Indian market as a place of immense opportunities. The company plans to offer full solutions thatserve the needs of large corporations and also bootstrap "dot.com" companies. It has expanded its portfolio to include knowledge management systems for crucial decision support. Cognizant also plans to use its strategic relationship with several leading players in the internet arena to develop quick-time-to-market solutions.In the last 18 months, using its proprietary e-launch methodology, Cognizant has implemented-quick-cycle-time solutions to companies ranging from internet start-ups to Fortune 1,000 companies. Having experienced a rapid growth in its e-business revenues, Cognizant plans to ramp up its resources to meet the emerging needs. Currently, 10 per cent of Cognizant employees are working on e-business projects. This number is expected to go up to 25 per cent by the end of 2000, officials added.