Cognizant Acquires PIPC, a Global Program Management Consulting Firm

TEANECK, N.J., May 10 /PRNewswire-FirstCall/ -- Cognizant (Nasdaq: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, announced today it has acquired The PIPC Group, a global program management consulting firm based in London. The terms of the transaction were not disclosed.

With more than 200 professionals worldwide, primarily in the UK, Australia, New Zealand, and the U.S., PIPC helps leading global companies drive business transformation by providing industry-leading program management services, methods and tools, including its PMO (Project Management Office) core competency and its PhD (Project Health Diagnostic) tool, which has been successfully deployed in over 800 engagements. PIPC will extend and complement Cognizant's existing project management and consulting capabilities and further Cognizant's ability to provide integrated services across consulting, technology, and business process outsourcing.

"We welcome PIPC's talented program management experts to Cognizant. At a time when cyclical and secular pressures are driving clients to seek new performance thresholds, effective program management is essential to ensure measurable business outcomes. PIPC's strategic program management offerings will strengthen our ability to manage increasingly complex global projects while expanding our geographic footprint, particularly in Australia, New Zealand and the UK," said Francisco D'Souza, President and CEO, Cognizant. "This acquisition builds on our long-standing strategy of adding sharply focused business capabilities that complement our existing offerings and enhance the value we offer clients."

"With 85,500 associates worldwide, Cognizant will provide the global delivery capability, experience and scale to enable PIPC to accelerate its growth ambitions. Our organizations have the right cultural fit, and together we can drive business transformation initiatives that combine high-quality consulting, IT, and business process outsourcing services with our advanced project management offerings," said Simon Rawling, Group Managing Director at PIPC.

About PIPC

Formed in 1992, PIPC is a global program management consulting firm. With expertise spanning several industries including financial services, retail, oil and gas, utilities, government and public sector, communications and the environmental sector, the company serves clients worldwide from delivery locations in the UK, Australia, New Zealand, and the U.S.  Its services range from managing post-M&A integration through strategic software implementations, with a broad range of delivery capabilities. More information is at www.pipc.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 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.

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.

SOURCE Cognizant