Cognizant Technology Solutions has a long and illustrious history that began in 1994 when several senior executives from Dun & Bradstreet Corporation decided to launch their own IT services and consulting firm. Today, Cognizant is one of the world's leading Information Technology and Business Process Outsourcing (BPO) companies. Headquartered in Teaneck, New Jersey, Cognizant has more than 300,000 employees and offices in over 40 countries around the world.
Formative Years
Cognizant was founded in January 1994 by Lakshmi Narayanan and Francisco D'Souza. The two founders were both senior executives at Dun & Bradstreet Corporation (D&B). D&B was an established business services provider that was expanding its IT operations. Seeing an opportunity to launch a business of their own, the two decided to leave D&B and launch a new IT services firm. They chose the name Cognizant, which means “to be aware of” in Latin.
Cognizant began operations in the United States, India, and the Philippines. They focused on developing a team of IT professionals to provide services to clients in the US. They also began to build a presence in the Indian IT services market. The early years of the company saw rapid growth and expansion as more clients in the US and India began to work with Cognizant.
Growth and Expansion
In the 2000s, Cognizant continued to expand its operations around the world. The company began to focus on emerging markets such as Brazil, China, and the Middle East. It also began to offer services to international clients. In 2002, Cognizant acquired MarketRx, a healthcare technology services firm. This acquisition helped to further expand Cognizant’s presence in the healthcare IT services market.
In 2005, Cognizant went public on the Nasdaq stock exchange. This helped to further fuel the company’s expansion and growth. By 2006, Cognizant had more than 30,000 employees and offices in more than 20 countries. The company continued to focus on providing IT services and solutions to clients around the world.
Recent Years
In more recent years, Cognizant has continued to expand its operations. The company has acquired several companies in the US, Europe, and India. It has also expanded its presence in the healthcare and life sciences industries. In 2012, Cognizant acquired Bolder Healthcare Solutions, a provider of healthcare IT services. In 2015, Cognizant acquired CoreLogic, a provider of financial services technology.
Today, Cognizant is one of the world's leading IT services and business process outsourcing companies. The company has more than 300,000 employees and offices in over 40 countries. Cognizant is also a leader in the healthcare, financial services, and life sciences industries. The company continues to focus on providing technology and consulting services to clients around the world.
The Future of Cognizant
Cognizant is well-positioned for continued success in the coming years. The company is continuing to expand its operations around the world and is focusing on emerging markets. It is also investing heavily in research and development to ensure that it remains at the forefront of technology and innovation. With its strong financial position and experienced leadership team, Cognizant is well-positioned to continue its growth and success in the years ahead.