Wednesday, Cognizant (CTSH), a global IT services provider and T-Systems, the enterprise customer division of Deutsche Telekom, announced that they have entered in to global Systems Integration alliance to cater to European corporations with global delivery requirements for system integration services. The partnership will facilitate the adoption of a global services delivery model in and beyond Europe that will enable the customers to save costs through labor arbitrage and drive business transformation and innovation through a powerful front-end deeply rooted in the local business environment, the company noted. Cognizant added that the partnership, combining the onsite and offshore expertise of T-Systems and Cognizant, will provide customers with the synergy of local business power-business culture, language capabilities and operating philosophy-and global resources.Further, as part of the partnership, T-Systems India and its approximately 1150 employees will be transferred to Cognizant, subject to appropriate regulatory clearance, Cognizant said.Francisco D'Souza, CEO of Cognizant, commented, "Our joint capabilities will deliver a powerful combination of scale and agility in the key markets serviced by both the companies. We also look forward to welcoming the T-Systems employees in India to the Cognizant family. We believe that this alliance will provide our joint customers with a world-class combination of deep local knowledge and market-leading global delivery platform.""This new alliance will make global delivery a reality in Europe. Strategically we are the first to give our customers unprecedented access to a new service and delivery model" stated Reinhard Clemens, CEO of T-Systems.Cognizant closed Tuesday's regular trading session at $30.48.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.