Cognizant Walkins Interviews For Freshers & Exp Hiring on 25th Sep 2015
It made an IPO in 1998, after a series of corporate splits and restructures of its parent companies. It was the first software services firm listed on the Nasdaq.During the dot com bust, it grew by accepting the application maintenance work that the bigger players were unwilling to perform. Gradually, it ventured into application development, complex systems integration and consulting work. Cognizant saw a period of fast growth during the 2000s, becoming a Fortune 500 company in 2011.In 2015, the Fortune magazine named it as the world's fourth most admired IT services company
Cognizant has roots in The Dun & Bradstreet (D&B), as a 1994 joint venture between Dun & Bradstreet (76%) and Satyam Computers (24%).[6] Srini Raju was the CEO of this company.Kumar Mahadeva played a major role in convincing D&B to invest $2 million in the joint venture.
Originally called DBSS, the unit was established as an in-house technology unit, and focused on implementing large-scale IT projects for Dun & Bradstreet businesses. In 1996, the company started pursuing customers beyond Dun & Bradstreet.
In 1996, Dun & Bradstreet spun off several of its subsidiaries including Erisco, IMS International, Nielsen Media Research, Pilot Software, Strategic Technologies and DBSS, to form a new company called Cognizant Corporation. Three months later, in 1997, DBSS renamed itself to Cognizant Technology Solutions. In July 1997, Dun & Bradstreet bought Satyam's 24% stake in DBSS for $3.4 million. Headquarters were moved to the United States, and in March 1998, Kumar Mahadeva was named CEO.Operating as a division of the Cognizant Corporation, the company mainly focused on Y2K-related projects and web development.
In 1998, the parent company, Cognizant Corporation, split into two companies: IMS Health and Nielsen Media Research.After this restructuring, Cognizant Technology Solutions became a public subsidiary of IMS Health. In June 1998, IMS Health partially spun off the company, conducting an initial public offering of the Cognizant stock. The company raised $34 million, less than what the IMS Health underwriters had hoped for. They earmarked the money for debt payments and upgrading company offices.
Kumar Mahadeva decided to reduce the company's dependence on Y2K projects: by Q1 1999, 26% of company's revenues came from Y2K projects, compared with 49% in early 1998. Believing that the $16.6 billion ERP software market was saturated, Mahadeva decided to refrain from large-scale ERP implementation projects. Instead, he focused on applications management, which accounted for 37% of Cognizant's revenue in Q1 1999.Cognizant's revenues in 2002 were $229 million, and the company had zero debt with $100 million in the bank.During the dotcom bust, the company grew by taking on the maintenance projects that larger IT services companies did not want.
In 2003, IMS Health sold its entire 56% stake in Cognizant, which instituted a poison pill provision to prevent hostile takeover attempts.Kumar Mahadeva resigned as the CEO in 2003, and was replaced by Lakshmi Narayanan.Gradually, the company's services portfolio expanded across the IT services landscape and into business process outsourcing (BPO) and business consulting. Lakshmi Narayanan was succeeded by the Kenya-born Francisco D'Souza in 2006. Cognizant experienced a period of fast growth during the 2000s, as reflected by its appearance in Fortune magazine's "100 Fastest-Growing Companies" list for ten consecutive years from 2003 to 2012.
In September 2014, Cognizant Technology Solutions Corp struck its biggest deal, acquiring healthcare IT services provider TriZetto Corp for $2.7 billion.Cognizant Shares, rose nearly 3 percent in premarket trading.
Job details;
Company;Cognizant
Avg Salary : 2.5-4.5LPA
Qualification;Any degree/B.e/B.tech
Last date to apply;25-sept 2015
Apply mode;Online
| IF U R FRESHER CLICK HERE TO APPLY |
| IF U R +2 EXP CLICK HERE TO APPLY |
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