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NewsCognizant Acquires AimNet, A Managed Infrastructure and Professional Services Company09.05.06 Teaneck, NJ — September 5, 2006 — Cognizant Technology Solutions (Nasdaq: CTSH), a leading provider of IT services, today announced it has acquired Massachusetts-based AimNet Solutions Inc., a managed infrastructure and professional services firm. In acquiring AimNet, Cognizant gains capabilities and expertise that strengthen the Company’s fast-growing IT Infrastructure Services (ITIS) practice. Founded in 2000 by former AT&T executives, AimNet is a privatelyheld company with over 100 employees. This transaction provides Cognizant with a state-of-the-art US-based Network Operations Center (NOC), a world-class patent-pending, proprietary infrastructure management software platform, an installed base of over 80 direct and indirect customers and partners, and high-end network and infrastructure consulting capabilities in areas such as network architecture, planning, design and infrastructure security solutions. In addition, Cognizant gains a highly experienced management team, led by industry veteran Ed Nalbandian, CEO of AimNet, who will join Cognizant to manage its IT Infrastructure Services practice. This marks the first time that a leading offshore IT services company has joined with a leading independent, USbased managed service provider to create a single, secure, seamless, global delivery model, managed with common platform and processes worldwide. “This acquisition demonstrates our commitment to continue building on the success of Cognizant’s fast-growing IT Infrastructure Services practice by expanding the depth of services we can provide to our customers,” said Lakshmi Narayanan, President and CEO of Cognizant. “AimNet’s offerings in professional and managed services, their process-rich delivery platform and high-end consulting capabilities in network management systems complement our growing infrastructure services offering. We are very pleased to welcome Ed Nalbandian and his team to Cognizant and anticipate that this acquisition will further accelerate the growth of our ITIS practice.” “Our proven industry track record in managed and professional services, coupled with Cognizant’s leading offshore delivery capability and India-based Network Operations Centre, will provide clients with flexibility and a range of options for delivering high value, secure, end-to-end infrastructure management services,” said Ed Nalbandian, CEO of AimNet. “Cognizant’s reputation for strong customer relationships, their non-hierarchical entrepreneurial culture and focus on industry verticals are an excellent fit for AimNet employees and clients alike. Combining the technology support of both organizations will allow Cognizant to offer the broadest and deepest set of infrastructure services in the industry.” AimNet offers a full range of IT infrastructure management services from consulting to 24x7x365 managed services. AimNet’s expertise spans a wide spectrum of clients’ IT infrastructure, including Wide Area Network (WAN), Local Area Network (LAN), Virtual Private Network (VPN), Security, IP Telephony, Server and Application support. These services are powered by AimNet’s enterprise-class, ITIL-based “OnTarget” Network Management Platform deployed at its Massachusetts-based Network Operations Center (NOC). Redwood Capital acted as the exclusive financial advisor to Cognizant Technology Solutions in connection with the transaction. |
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