Cognizant Technology-Ordina

Both CTS and Ordina will collaborate to deliver outsourced services as part of a seven-year arrangement with Rabobank Group, encompassing application design, development and testing services. On its part, CTS will manage the onsite/offshore delivery of services.

The two companies - CTS and Ordina - had entered into an agreement whereby the former will become Ordina''s primary strategic partner in the Benelux for offshore solutions. The two companies will jointly offer global delivery solutions for Ordina''s top 40 customers in the financial services, public, industrial and telecommunications markets.

"This agreement confirms our leading position in the ICT and outsourcing market in the Netherlands", said Ronald Kasteel, chief executive officer, Ordina.

According to Francisco D''Souza, president and CEO of CTS, the deal allows the company to extend its long standing relationship with Rabobank via Ordina. "Additionally, our partnership with Ordina further underscores our commitment to expanding CTS'' presence in key European markets and enables the two companies to jointly pursue strategic client relationships through the strength of our combined business models."

Meanwhile, CTS posted an impressive first quarter result with revenue going up by 61 per cent to $460.3 million as compared to the previous year''s first quarter revenue of $285.5 million. The GAAP net income was $75.4 million for the first quarter this year as against $47.2 million of the previous year''s corresponding period.

According to D''Souza, the company generated strong momentum in newer verticals, especially in retail, manufacturing and logistics. "We also experienced escalating demand across our solution offerings, particularly ERP, testing and business process outsourcing."