Chennai: Technology service provider Cognizant on Wednesday said it has signed a five-year multimillion dollar contract with Invensys Rail in order to serve its global product Research & Development needs of its group companies.
“Cognizant has signed an initial five-year, multi-million dollar contract with Invensys Rail to serve the global product R&D needs of its group companies located in the UK, Australia, Spain, and the USA”, a company press release said.
Under the agreement, Cognizant would augment Invensys Rail products, and help the company leverage Cognizant’s process maturity to bring in greater operational efficiency and cost-effectiveness to its global product R&D processes.
In view of this, offers to join Cognizant would be made to over 120 Invensys Rail professionals from its existing R&D center in Hyderabad, it said.
The tieup would help Cognizant strengthen its presence in the rail industry by enhancing its ability to provide end-to-end services to rail customers and expanding its customer base through industry-leading competencies in safety-critical application development.
“We are pleased to work with Invensys Rail and welcome on board their highly talented and experienced professionals in Hyderabad,” said Cognizant president and CEO Francisco D’Souza
“We are confident that we will significantly augment Invensys Rail’s ability to innovate and ramp up the delivery of products. This multi-dimensional relationship will help both companies solidify our leadership positions in the rail industry”, he added.
Cognizant currently has 50 global delivery centers and more than 68,000 employees, the release added.