TEANECK, N.J., June 17 /PRNewswire-FirstCall/ -- Cognizant (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, announced today it has acquired Galileo Performance, a Paris-based provider of information technology (IT) testing consulting services. The terms of the transaction were not disclosed.
Galileo helps leading companies in France optimize and extend business performance through IT system measurement, management and testing. Galileo will expand and complement Cognizant's fast-growing global testing practice, currently among the world's largest with more than 10,000 testing professionals, while strengthening Cognizant's existing business presence in France.
Outsourced testing services have been growing significantly, not only for their value in lowering the cost of quality assurance and software maintenance, but also for ensuring tighter alignment of IT with business objectives, greater operational effectiveness, and improved governance and risk mitigation. Industry research firm IDC forecasts a five-year CAGR of 19% for discrete global testing services, reaching an estimated $17.7 billion by 2013.(1)
"We welcome Galileo's talented consultants to Cognizant. The acquisition will enable Cognizant to bring world-class testing services to the French market, and the addition of French-speaking consultants will help us better serve our customers in the region," said Francisco D'Souza, President and CEO, Cognizant.
"We are delighted to join Cognizant. With a shared commitment to client satisfaction and delivery excellence, together we can deliver a comprehensive suite of software testing services spanning consulting, enterprise services and functionality testing, with a native French-speaking capability," said Abel Guerrini, Managing Director, Galileo Performance.
"New virtualized business and technology architectures require that quality assurance and testing organizations transform themselves into full lifecycle partners, working with business users, developers and others within and outside of the client organization to champion software quality," said Sumithra Gomatam, Senior Vice President and Global Head of Cognizant's Testing Practice. "We look forward to working with the Galileo team to expand Cognizant's testing services in the French market, and to bring innovative testing services including managed test centers as well as virtualized and cloud-enabled testing to clients."
About Galileo Performance
Galileo Performance is a consulting firm dedicated to the measurement, management and continuous optimization of IT system performance. Staffed by a team of 29 experienced professionals, Galileo Performance offers its clients proven solutions and cost efficiencies. More information is available at http://www.galileo-performance.fr.
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 over 50 global delivery centers and more than 85,500 employees as of March 31, 2010, we combine a unique global 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.
(1) IDC, "Worldwide Discrete Testing Services 2009–2013 Forecast: Stepping Out from the Shadows," Doc # 219959, Sept. 2009.
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.