New Delhi: Infosys has categorically rejected IT major Cognizant’s subsidiary TriZetto’s accusations of stealing trade secrets and information related to healthcare insurance software. Trizetto filed a lawsuit on India’s second largest IT company in a US federal court, accusing the Bengaluru-headquartered company of stealing trade secrets.
Infosys released a statement denying all allegations. The domestic IT major acknowledged receiving the lawsuit, saying it will defend its position in the court.
Cognizant Technology Solutions Corporation, an American multinational corporation, filed a lawsuit in Texas federal court accusing Infosys of illegally accessing data from TriZetto’s software — Facets and QNXT. In its petition, the US-headquartered company accused Infosys of using the softwares to develop and market a competing product.
Facets and QNXT are used by healthcare insurance companies to automate tasks. It may be noted that Teaneck, New Jersey-based Cognizant has the bulk of its employees in India.
Reports suggest that Cognizant accused Infosys of misusing TriZetto’s software to create “Test Cases for Facets,” which repackaged its data into an Infosys product. The reports also claimed that the American company alleged that Infosys created software to extract data from QNXT, that contained confidential TriZetto information.
Interestingly, Cognizant appointed former Infosys executive Rajesh Varrier as its global head of operations and India Chairman and Managing Director after Rajesh Nambiar resigned. Nambira will be taking over as Nasscom president.
Current Cognizant’s Chief Executive Officer (CEO) Ravi Kumar S is also a former employee of Infosys. He was associated with the Bengaluru-based firm for 20 years and served as president from January 2016 through October 2022.
In its Q1 2024-25 Results, Infosys, a global leader in next-generation digital services and consulting, reported $4,714 million in Q1 revenues with a sequential growth of 3.6 per cent
and year on year growth of 2.5% in constant currency.
Cognizant has filed a lawsuit against Infosys over allegedly stealing trade secrets. Infosys denied all the allegations levelled by the US multinational. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
