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Acquisition strengthens Cigniti’s digital ambitions and helps offer digital engineering services to its customers across the globe

4^th May, Hyderabad, India: Cigniti Technologies, world’s leading digital assurance and quality engineering services company, is set to acquire Aparaa Digital, a leading AI/ML, Data engineering, Analytics, and Blockchain services company that operates under the brand name RoundSqr. This is a firm step towards bolstering Cigniti’s strategic pursuit of becoming a specialized digital engineering and assurance services provider.

Founded by a group of industry leaders with extensive experience in managing medium to large digital transformation projects, Aparaa Digital (RoundSqr) is headquartered out of Hyderabad, India. Aparaa brings integrated enterprise digital transformation and consulting-driven expertise covering a gamut of AI and ML, data engineering, and Blockchain capabilities. RoundSqr’s Zastra, (an active learning-AI based data annotation and MLOps platform), helps solve critical model validation challenges as ML models get to production in enterprises. This helps move past the last mile AI operational challenges with MLOps.

Speaking about this acquisition, Srikanth Chakkilam, CEO at Cigniti Technologies, said “Onboarding Aparaa Digital (RoundSqr) is in line with our strategy to expand our digital engineering capacity to provide a greater breadth and depth of services to our clients. This is a strategic and complimentary capability led acquisition for us. The digital engineering market, valued at about $300 Billion annually, offers an explosive head room of growth for companies that have strong capabilities in Data & Analytics, AI & ML, and cloud engineering. Global 2000, platform, and digital native companies are looking to partner with service providers who can help them with these capabilities. This has become an essential requirement to accelerate digital transformation across industries.”

“I am glad to announce that the Board has approved the acquisition of Aparaa Digital Private Limited (RoundSqr) and its foreign subsidiaries namely RoundSqr Inc; USA, RoundSqr Pty Ltd; Australia for an all cash deal of $4.8mn,” said Cigniti’s CFO Mr. Krishnan Venkatachary. “This acquisition will lead to deeper and potentially multi-year engagements across our enterprise client base in the areas of digital engineering and assurance and will help us influence business and digital outcomes in our Fortune 500 and Global 2000 existing accounts,” he further said.

“At Cigniti we are willing to bet on IP-led services models, investing in innovative platforms that have a ripple effect to accelerate modern day digital assurance and digital engineering services for our esteemed customers. This acquisition helps us fill in all our criteria, and we are confident this will be a successful strategy for the future.” added Srikanth.

Kiran Kuchimanchi, CEO of Aparaa Digital (RoundSqr), said “We are extremely thrilled to join forces with Cigniti, a global leader in the digital assurance space. Our endeavor to help transform the business models of global organizations through byte-sized digital reimagination has received a strategic thrust through this acquisition.”

Kiran further added “We will help with the digital transformation journeys of Cigniti’s impressive customer base, including 80 of the Global 2000 companies. Our ability to reach new companies and help them with digital engineering services will be amplified through Cigniti’s global presence across 23 countries. We will leverage Cigniti’s brand and expertise to attract the best of the talent across the world in the data engineering, AI/ML, Blockchain, and high-end product development space. This strategic move is in line with our like-minded thinking of Cigniti to help customers become Digital-First. This will also enable our digital native teams to enjoy unprecedented career growth. It throws a diverse set of opportunities to maximize our potential as a company, and our vision to bring disruptive innovation.”

About RoundSqr (Aparaa Digital)
RoundSqr drives Digital Transformation through consulting-driven roadmaps, byte-sized digital re-imagination and by solving complex problems leveraging emerging technologies. Areas covered include Omni-channel solutions, Mobility, Big Data, Artificial Intelligence, Machine Learning & Blockchain. The company has clients in USA, LATAM, UK, APAC, Australia, and India.

About Cigniti
Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), a global leader in providing AI-driven, IP-led, strategic digital assurance, software quality engineering, testing, and consulting services, is headquartered in Hyderabad, India, with offices in the USA, U.K., UAE, Australia, Czech Republic, and Singapore. Leading global enterprises including Fortune 500 & Global 2000 trust us to accelerate their digital transformation, continuously expand their digital horizons, and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G assurance, customer experience assurance, and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

Contact:
midhun.pingili@cigniti.com (+91 8886093093)
ram.manjeri@roundsqr.com (+91 9705666644)

Consolidated Revenue Rs. 344.08 crores and Net Profit Rs. 22.60 Cr
Standalone Revenue Rs. 124.75 crores and Net Profit Rs. 9.18 Cr

Mumbai, May 4, 2022: Cigniti Technologies Limited, a global leader in independent quality engineering and software testing services, announced the consolidated financial results for the quarter ended March 31, 2022.

The company’s reported Net Profit for Q4FY22 stood at Rs 22.60 crore as against Net Profit of Rs 26.55 crore in Q3FY22.

The Company’s Consolidated Revenue from operations for the quarter under consideration stood at Rs 344.08 crore as against Rs 325.46 crore in Q3FY22.

EBIDTA reported for the quarter and year ended March 31, 2022 stood at Rs. 32.61 crore and Rs. 129.28 crores respectively. The Operational EBITDA after adjusting for non-recurring charges stood at Rs. 36.06 crore and 142.47 crores for the quarter and year ended March 31, 2022 respectively.

Other income includes net foreign exchange gain of Rs. 150.55 Cr. for the quarter ended March 31, 2022.

Management Commentary
Commenting on the results Mr. C V Subramanyam, Chairman & MD said, “I am happy to announce that we have continued to deliver another quarter with robust performance in an evolving market scenario. Our focus on the shift to digital assurance has further accelerated and we continue to maintain our growth momentum. Our growth will continue through newer technologies and offering digital transformation service. We are confident that we shall consistently continue to achieve our objectives and grow at an augmented phase in the coming years.

Further, I am glad to announce that Board has approved the acquisition of Aparaa Digital Private Limited (RoundSqr) for an all cash deal of $4.8mn. This acquisition will strengthen us in the digital space and accelerate our journey towards becoming digital assurance Company.”

Highlights for the quarter ended March 31, 2022

• Revenue from top 5 clients contributed approximately 22.08% of the Revenue
• BFSI, Travel & Transport and Retail & e-commerce sectors contributed the most to the revenue for Q4FY22
• Revenue split geographically: North America & Canada – 85%, UK & Europe - 8%, Rest of the World 7%.

About Cigniti Technologies Limited
Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Dallas, USA with offices in USA, India, the U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

One of the largest deals Cigniti has won, which has a high potential to grow in the coming years.

Hyderabad, India: Cigniti Technologies has signed a $ 10Mn+ worth ACV deal with one of the largest and oldest Financial Services and Investment firm in the USA to assure and accelerate its digital transformation journey. The deal has potential to immensely grow in the coming years. Cigniti Technologies, a global leader in providing AI-driven, IP-led, strategic digital assurance, software quality engineering, automation, testing, and consulting services, helps global companies to go Digital-First.

• This Strategic Partnership will support Legacy Transformation using Cigniti’s Advisory & Transformation Services (ATS) and achieve committed ROI and quicker time-to-market.
• The engagement entrusted by the financial services major covers a gamut of services to be provided spanning Infrastructure Automation, Chaos Engineering, Security, and Performance assurance services leveraging Cigniti’s Digital Assurance and IP led Quality Engineering services with massive automation capabilities.

The client is a Fortune 500 company with operations in 20+ U.S. states as well as offices in three continents.

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti Technologies, said “We are excited to be a strategic digital transformation assurance partner with this leading financial services firm. The deal is an outcome of deep-rooted expertise of a domain-led, automation-led, and solution-led approach, encompassing functional, process, business, and digital assurance services for large enterprise customers. This is also a testament of our ability to win large deals. It further improves our BFSI revenues which are already contributing 19.23% of total revenues.”

“Our continuous investments into our domain centers of excellence, particularly with the 300+ experts in the Financial services COE, and in our IP, BlueSwan™ to enhance its capabilities, to create new IP-based solutions, such as AI-led test data management, no-code & low-code automation, test environment management, and security engineering, are increasingly becoming a strong differentiator for winning large-sized deals with companies across the globe,” Srikanth added.

“We promise frictionless end user experiences with our Digital-Assurance services stack. We enable our customers to tread confidently on their digital transformation journeys, help them re-imagine their businesses, achieve market leadership, and win the digital landscape”, he added.

About Cigniti
Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), a global leader in providing AI-driven, IP-led, strategic digital assurance, software quality engineering, testing, and consulting services, is headquartered in Hyderabad, India, with offices in the USA, U.K., UAE, Australia, Czech Republic, and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G assurance, customer experience assurance, and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

Contact:
For more details, please contact Midhun Pingili (Midhun.pingili@cigniti.com), Director - Marketing & PR

Company strengthens the leadership team to accelerate the next phase of growth.

Hyderabad, India: Cigniti Technologies, a global leader in providing AI driven, IP-led, digital assurance, software quality engineering, testing and consulting services company, announced the appointment of veteran IT and product engineering industry business leader, Vinay Rawat as Chief Revenue Officer and Sairam Vedam, an award-winning expert in global marketing, branding, corporate strategy and digital industry thought leader, as its Chief Marketing Officer.

Vinay has had an illustrious career as the CRO and Head of M&A at Infogain. At Wipro, as the SVP & Global Head - Network Equipment & Consumer Electronics BU, he was responsible for all aspects of the business of multi hundred-million-dollars.

Sairam is an accomplished marketing and strategy leader with proven expertise in creating brands of global repute in the enterprise software products and services space. Prior to Cigniti, he was the CMO for Innominds, and Kore.AI, driving them to market leadership in the digital product engineering and Enterprise Conversational AI platform space. Sairam has also worked with Pramati, Apere, CTO’s office at CA Technologies and HCL Technologies across roles spanning engineering, delivery, marketing, and HR. He was awarded by BBC Knowledge Series as one of the Greatest Marketing Influencers in 2017.

Speaking on the occasion, Srikanth Chakkilam, CEO – Cigniti Technologies, said, “I am excited to welcome Vinay Rawat and Sairam Vedam into two key positions of Cigniti. Together, they will work towards achieving Cigniti’s stated goal of helping global companies become digital-first. Cigniti is in a unique position to leverage its deep-rooted expertise of helping enterprises accelerate the digital transformation initiatives through world-class digital assurance and engineering services. The experience that both these leaders bring on board in working with digital and product engineering, AI platform companies would help in accelerating our next phase of growth.”

“Vinay brings extensive experience in general management and especially in sales and business development, creative deal making, outsourcing, process design and operations management.

Based out of the US, as the CRO, Vinay will focus on identifying new revenue opportunities and pioneer new markets for the company. He will work closely with Chairman & MD, CEO and Board of directors and would develop growth strategies, new offerings and opportunities.” he added.

Speaking about Sairam, Srikanth said, “Sairam who has joined us back at Cigniti will oversee the planning and execution of the organization’s strategic marketing programs, work on developing the long term charter towards our digital play, and will enhance Cigniti’s mindshare as a preferred Digital services provider and thought leader across our customers, partners, analysts, media, investors, influencers and employees. In his prior stint with us he drove the 360-degree marketing function building it from the scratch, managing the global brand footprint, and has a complete understanding of our culture and vision,” he added.

“As a digital industry and product engineering leader I have always believed that Digital Assurance is extremely important for any digital transformation program’s success. Some of the largest enterprises today rely on Cigniti’s digital assurance services to achieve growth and meet their digital transformation agenda. Hence, I am excited and look forward to helping Cigniti further scale the business, participate more deeply in our customer’s digital journeys & contribute towards achieving Cigniti’s vision of helping customers become digital-first through quality software,” said Vinay Rawat.

“Cigniti’s proprietary platform led approach, its proven ability to deliver transformative digital experiences through a confluence of market-leading full-cycle digital assurance and automation services with a strong foundation of more than a decade in consistently serving 200+ market-leading organizations as customers across the world is more apt than ever before. The bedrock of becoming digital-first in modern day business is ensuring impeccable digital experiences and customers today are looking to leverage this expertise further. I am excited to join back Cigniti as our next-gen offerings and services gear up to ride this unparalleled wave of growth.” said Sairam Vedam.

About Cigniti
Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), a global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

Contact:
Midhun Pingili, Director, Marketing | Midhun.pingili@cigniti.com | www.cigniti.com

Dallas, USA: Cigniti Technologies, world’s leading Independent Quality Engineering & Software Testing Services company, headquartered in Dallas, Texas expands its portfolio of digital assurance and experience solutions with the launch of their Customer Experience Assurance (CXA) Platform, Incight, that provides early and live experience insights, thereby enabling enterprises to achieve their Digital Transformation goals.

The competition to woo a customer has never been as fierce as in today’s digital age. Therefore, monitoring, identifying, and providing the best digital customer experience (CX) assurance has become pivotal for organizations. Being able to leverage real-time information across multiple digital touchpoints of the user’s sentiment and overall experience can help organizations provide a higher level of customer experience assurance. This, in turn, helps them build a successful brand story to stay ahead of the competition.

Cigniti is known for its IP-led solutions that focus on providing customer experience assurance, such as Customer Experience Sentiment Analyzer (CESA) from BlueSwan™ that identifies, categorizes and analyzes feedback expressed by end-users for a given product or service. The first-of-its-kind Customer Experience Assurance (CXA) platform, Incight, enables Product, Marketing, and CX leaders to analyze, predict and tailor the user experience of mobile applications leveraging the underlying AI and analytics platform capabilities in real-time. Cigniti’s CXA platform provides a 360-degree view that enables enterprises to proactively identify issues and make the necessary enhancements to their applications before the customers decide to drift away from the brand.

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti Technologies said “Per Forrester, brands that have superior customer experience bring in 5.7 times more revenue than their competitors. Incight has been built keeping customer-centricity in mind and ensures you can gain real-time insight into what your customers need, even before they ask for it, thereby helping you deliver world class customer experience.”

‘Incight’ is available for immediate use on incight.ai with a 7-day no obligation free trial period.

Contact:
Midhun Pingili, Director, Marketing | Midhun.pingili@cigniti.com | www.cigniti.com

Belagavi, 1^st December, 2021: The ICU unit at Belagavi Institute of Medical Sciences has been renovated by bringing in new medical equipment with the support of Cigniti Technologies. Inauguration of the ICU happened in the virtual presence of Mr. Paul Trotter, Dy. CTO at Atom, Mr. Srikanth Chakkilam, CEO at Cigniti Technologies and Mr. Krishnan Venkatachary, CFO at Cigniti. Dr. Viveki, Director, BIMS, and Mr. Mayur Patnala, Founder and CEO, Nirmaan Organization have graced the occasion at the Hospital.

Cigniti Technologies, the world’s leading independent Quality Engineering and Software Testing services company, partnered with the Nirmaan Organization to provide medical equipment to the ICU ward of Belagavi Institute of Medical Sciences (BIMS) in the Belagavi district of Karnataka. Cigniti donated ECG machines, oxygen cylinders, X-ray machines, air conditioners for the ICU ward, computers for the hospital staff, crash carts, ICU medical trolleys, surgical trolleys, suction apparatus, NIV masks, and other medical equipment to the hospital to support India's fight against COVID-19.

"As a socially responsible organization, we’re committed to supporting India's recovery from the COVID-19 second wave. We are happy to be a part of this project to improve Karnataka's medical infrastructure, which will help rural residents get better healthcare during and after the pandemic." Srikanth Chakkilam, Chief Executive Officer of Cigniti Technologies, stated on the occasion.

"We thank Cigniti and Nirmaan for supporting BIMS Belagavi with crucial ICU medical equipment. The much-needed oxygen cylinders and NIV masks will help the hospital supplement their oxygen supplies and prepare for future emergencies." Dr. Viveki, Director, BIMS.

Shri. Mayur Patnala, Founder and CEO of the implementation partner, Nirmaan Organization, thanked Srikanth Chakkilam, Dr. Viveki, and the District Collector for supporting the program.

About Cigniti: Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

About Nirmaan: Nirmaan is an NGO founded in 2005 by a group of BITS Pilani students with the goal of creating a knowledge-driven and economically empowered society. Nirmaan works in the areas of education, livelihood, and social leadership. In the last 16 years of their journey, Nirmaan has impacted 16 lakh lives of children, youth, women, and farmers across 15 states of India by partnering with 75+ corporate and government institutions.

During the COVID-19 pandemic, Nirmaan has supported many government hospitals and frontline health workers by donating ICU beds, isolation beds, ventilators, PPE kits, masks, sanitizers, ration, and livelihood kits, etc. So far, Nirmaan has helped 44 government hospitals in Telangana set up and upgrade ICU wards, as well as 20 government hospitals in Karnataka and 34 government hospitals in Andhra Pradesh with the help of corporate partners.

Access the full coverage here

Contact
Midhun Pingili, Director, Marketing | Midhun.pingili@cigniti.com | www.cigniti.com

Live 5G infrastructure further enables comprehensive assurance for clients embracing 5G

30^th November 2021, Dallas: Cigniti Technologies, a global leader in independent quality engineering and software testing services, expands its portfolio of pioneering innovative digital assurance and experience solutions for next generation 5G technologies by forming a strategic partnership with innovate5G.

As companies move to 5G, they are going to be challenged in optimizing for the plethora of possibilities that 5G has to offer and with that, customer expectations and demand for new services will increase at a rapid pace. So, whether it be enhanced video, telehealth, adaptive manufacturing, AR/VR, gaming, consumer IoT services, connected vehicles, to name just a few, the pivot to the 5G paradigm will be significant as will the manner in which these new solutions are rolled out.

Embracing this new horizon of transformation and realization of 5G networks - machine type communication (mMTC), enhanced mobile broadband (eMBB), ultra-reliable low-latency communication (URLLC) – creates the mandate for a new paradigm of digital assurance. Innovate5G’s in5Genius platform combined with Cigniti’s 5G Assurance capabilities, creates an end-to-end assurance model for organizations that are leveraging 5G as the backbone for their business and consumer applications, IoT, and edge computing.

Srikanth Chakkilam (CEO – Cigniti Technologies): “The promised benefits of 5G - high-speed networks, increased capacity and minimal latency – creates a new dimension for companies to exploit across business and consumer applications, as well as with IoT. But what comes will be new architectures supporting the intrinsic relationship between the applications/IoT devices and the network. Our partnership with innovate5G, further enables Cigniti’s Digital Assurance services to best support our clients’ 5G initiatives with speed, reliability and predictability.”

Chris Stark (Founder/ CEO innovate 5G): “Our in5Genius cloud platform allows enterprises to leverage the vast capabilities of the 5G bandwidth. Through this partnership with Cigniti we are now able to offer best in class enterprise grade quality engineering services to expedite the development and mainstream roll-out of the 5G centric digital experience.”

About Cigniti: Cigniti Technologies Limited (NSE: CIGNITITEC, BSE: 534758), global leader in providing IP-led, strategic digital assurance, software quality engineering, testing and consulting services, is headquartered in Hyderabad, India, with offices in USA, U.K., UAE, Australia, Czech Republic and Singapore. Leading global enterprises including Fortune 500 & Global 2000, trust us to accelerate their digital transformation, continuously expand their digital horizons and assure their digital next. We bring the power of AI into Agile and DevOps and offer digital services encompassing intelligent automation, big data analytics, cloud migration assurance, 5G Assurance, Customer experience assurance and much more. Our IP, next-gen quality engineering platform, BlueSwan helps assure digital next by predicting and preventing unanticipated application failures, thereby assisting our clients in accelerating their adoption of digital.

About innovate5G:  innovate5G - in5Genius - platform meant for application developers to test their 5G applications in a secure and pressure-free environment, at their own pace. Whether it’s an idea for a gaming, industrial, or enterprise application, innovate5G is eliminating barriers for developers to test out their ideas - such as having to partner with a carrier or large OEM. We are working with universities and innovation zones to build 5G networks and developing a lab-sharing model in a similar vein to Airbnb. We design and build bespoke private CBRS LTE and 5G networks for enterprises.

Access the full coverage here

Contact
Midhun Pingili, Director, Marketing | Midhun.pingili@cigniti.com | www.cigniti.com

Cigniti Technologies, the world’s leading independent Quality Engineering and Software Testing Services, is a finalist in two different categories mentioned below at the Annual North American Software Testing Awards 2021.

• Best Test Automation Project – Functional
• Testing Management Team of the Year

Cigniti is nominated in partnership with Equitable Bank for the Best Test Automation Project – Functional. For the Testing Management Team of the Year award, Cigniti is nominated in partnership with Aviva. The winners will be announced on November 23rd, at the Gala Awards Night in Toronto.

Cigniti has helped accelerate the digital transformation journey of several global enterprises by providing highly innovative and strategic software testing & quality engineering solutions. It is currently partnering with several enterprises in the North American region. These are a part of its distinguished portfolio of 200+ global enterprise clients, including 50+ Fortune 500 companies.

Cigniti Technologies, the world’s leading independent Quality Engineering and Software Testing Services, is a finalist in three different categories mentioned below at the 8^th Annual European Software Testing Awards 2021.

• Best Agile Project
• Testing Management Team of the Year
• Best Overall Testing Project - Retail

Cigniti is nominated in partnership with Atom Bank for the Best Agile Project and the Testing Management Team of the Year award. For the Best Overall Testing Project (Retail) award, Cigniti is nominated in partnership with River Island. The winners will be announced on November 9^th, at the Gala Awards Night in London.

Cigniti has helped accelerate the digital transformation journey of several global enterprises by providing highly innovative and strategic software testing & quality engineering solutions. It is currently serving enterprises from eight countries in the Europe and U.K. region. These are a part of its distinguished portfolio of 200+ global enterprise clients, including 50+ Fortune 500 companies.