Cognizant figures in Fortune 500 list

Nasdaq-listed IT major Cognizant has joined the list of Fortune 500 companies ranked by Fortune Magazine.

Cognizant with $4.59 billion revenues as of 2010 has been ranked at 484 in the Fortune 500 list, a company statement here said today.

"Since our inception 17 years ago, we have built a new business model for consulting, IT and business process outsourcing services-combining our high-touch approach to client engagement and a depth of industry expertise with high-quality solutions and global footprint", Cognizant CEO and President Francisco D'Souza said.

As of March 31, 2011, Cognizant employs 1.11 lakh people globally serving over 700 clients. The company has 50 delivery centres worldwide, the statement added.