Cognizant, Invensys Rail ink 5-yr deal
Software services provider Cognizant on Wednesday said it has signed a five-year multi million-dollar contract with Invensys Rail, a provider of railway control and communications systems.
By ET Bureau |
CHENNAI: Software services provider Cognizant on Wednesday said it has signed a five-year multi million-dollar contract with Invensys Rail, a provider of railway control and communications systems.
The deal will strengthen Cognizant’s transportation practice, especially in the area of rail technology, as it will be working on product development for Invensys Rail’s group companies in US, UK, Australia and Spain. As part of the deal,
Cognizant will absorb 120 Invensys Rail employees in Hyderabad.
This is the second deal that Cognizant has signed with the UK-based Invensys group. In July this year, Cognizant signed a five-year contract with Invensys Operations Management and made 400 of the company’s employees in Hyderabad.
“Given the successful integration of Invensys Operations Management R&D unit, it was only natural that IRG (Invensys Rail Group) chose Cognizant to attain its business objectives,” said Cognizant president and MD (Global Delivery) R Chandrasekaran. Invensys Rail’s CEO James Drummond said the relationship is important to fuel the company’s growth in mature and emerging markets.
While the worldwide accessible rail market is pegged at $86 billion, out of which rail control, infrastructure, and services segments account for 62%, according to a worldwide Rail Market Study by Unife, an association of the European rail industry.
The deal will strengthen Cognizant’s transportation practice, especially in the area of rail technology, as it will be working on product development for Invensys Rail’s group companies in US, UK, Australia and Spain. As part of the deal,
Cognizant will absorb 120 Invensys Rail employees in Hyderabad.
This is the second deal that Cognizant has signed with the UK-based Invensys group. In July this year, Cognizant signed a five-year contract with Invensys Operations Management and made 400 of the company’s employees in Hyderabad.
“Given the successful integration of Invensys Operations Management R&D unit, it was only natural that IRG (Invensys Rail Group) chose Cognizant to attain its business objectives,” said Cognizant president and MD (Global Delivery) R Chandrasekaran. Invensys Rail’s CEO James Drummond said the relationship is important to fuel the company’s growth in mature and emerging markets.
While the worldwide accessible rail market is pegged at $86 billion, out of which rail control, infrastructure, and services segments account for 62%, according to a worldwide Rail Market Study by Unife, an association of the European rail industry.
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Cognizant further said that the capabilities gained through this deal will form a part of its engineering and manufacturing services practice, which can be used to serve other customers and markets in this area. Engineering and manufacturing services falls in the manufacturing, retail & logistics bucket, which accounts for 17% of Cognizant’s revenues.Start a SIP with as low as ₹500 with ET Money App!
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