US-based IT services provider Cognizant Technology Solutions (CTS) aims to start operations in Hungary and Philippines soon.
“Cognizant will start operations in Hungary next month. As of now, we have not decided on the time-frame for Philippines but we expect to kick off our operations in the island nation soon,” N Chandra Sekaran, president and managing director of CTS told reporters on the sidelines of Intaglio, an international B-school meet, hosted by the Indian Institute of Management in the city. CTS is also scouting for acquisition of overseas firms, especially those who specialize in analytical and problem solving skills, he added. In a significant development, the company’s revenue from its Europe operations has grown from 13% to 17% in the last three quarters. “Cognizant’s revenue from its Europe operations has gone up from 13% in the Q1 to 17% in the Q3 of this fiscal. The growth in the company’s Europe revenue has been on account of the dip in its US revenues, triggered by the sub-prime crisis”, Sekaran claimed. He hinted that Cognizant is poised for a major expansion in the European market but refused to elaborate further. Cognizant, the customer-centric IT firm is now focussing on delivering quality services seamlessly from multiple geographies across the world. (Business Standard)