Cognizant expands in EU and US
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Cognizant expands in EU and US

Tech consultancy Cognizant has recently announced the opening of two major new delivery centres, one in Latvia, and the other in Riga. The European location is described as a way to provide “back-office consultancy and managed services support” to clients in the Baltics and Nordics, whereas the Texas centre adds to an ongoing expansion in Irving, and accounts for $8 million investment from the company.

Cognizant’s share price has risen by 6% year to date

graph 0709 cognizant

SOURCE: Yahoo Finance

Karen McLoughlin, the company’s chief financial officer, discussed the Texas centre, saying: "Our latest expansion is the result of Texas' business-friendly environment, the Texas Enterprise Fund, and the location of our many other partners in the Irving and Dallas region. As one of the largest technology recruiters and employers in the United States, Cognizant cares deeply about our country's workers and their sustained ability to keep pace globally as technology races ahead.”

The centre in Riga, Latvia’s capital, was opened at a special event which was attended by numerous public figures. The country’s Minister of Economics and Deputy Prime Minister, Arvils Aseradans, praised Cognizant’s investment into the country as a sign that Latvia’s “commitment to attracting top employers to the country,” was paying off.

Cognizant’s president of global growth markets, Santosh Thomas, made the following comment: “Riga is central to a number of our industry-leading clients, and a strong source of IT and digital skills talent. It is also a good location for Cognizant due to its proximity to Northern Europe. Over time, Cognizant plans to establish the Riga facility as a Centre of Excellence for telecom customers in Europe.”

Disclosure

Dominion holds Cognizant in its Global Trends Managed Fund.


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