BUFFALO, N.Y., June 08, 2016 (GLOBE NEWSWIRE) -- CTG (NASDAQ:CTG), an information technology (IT) solutions and services company, today announced the launch of a staffing subsidiary in Hyderabad, India. Computer Task Information Technology Services Private Limited will serve as a strategic platform to provide offshore recruiting and sourcing solutions to U.S. customers. The new subsidiary recently secured its first placement in fulfillment of a U.S.-based IT staffing requisition.
CTG Chief Executive Officer Cliff Bleustein commented, "We continue to add new accounts to our U.S. staffing business each quarter, leading us to recognize a need for additional resources as we scale both in the U.S. and offshore. The launch of a new subsidiary in India expands CTG’s existing capabilities to new and existing clients, and we will strategically add further recruiting resources both in the United States and India as our business grows.
“Our Hyderabad-based recruiting team brings deep proven experience in multinational requisitions, immediately augmenting our U.S. recruiting teams with greater reach and alternate cost structures. Additionally, Computer Task Information Technology Services Private Limited will serve as a strategic platform on which we can grow the number of staffing engagements and RFPs that we pursue and service. Consistent with our 2016 business objectives focused on growth and cost reduction, the launch of this fulfillment center in India expands our recruiting capabilities as well as the potential price points of our offering.”
CTG provides industry-specific IT services and solutions that address the business needs and challenges of clients in high growth industries in North America and Western Europe. CTG also provides strategic staffing services for major technology companies and large corporations. Backed by 50 years of experience and proprietary methodologies, CTG has a proven track record of delivering high-value, industry-specific staffing services and solutions to its clients. CTG operates in North America and Western Europe, and regularly posts news and other important information online at www.ctg.com.
Safe Harbor Statement
This document contains certain forward-looking statements concerning the Company's current expectations related to certain financial metrics. These statements are based upon the Company's expectations and assumptions, a review of industry reports, a review of current and proposed legislation and governmental regulations that may affect the Company and/or its customers, and other future events or circumstances. Actual results could differ materially from the outlook guidance, expectations, and other forward-looking statements as a result of a number of factors, including among others, the availability to the Company of qualified professional staff, domestic and foreign industry competition for customers and talent, increased bargaining power of large customers, the Company's ability to protect confidential client data, the partial or complete loss of the revenue the Company generates from International Business Machines Corporation (IBM) and/or SDI International (SDI), the uncertainty of customers' implementations of cost reduction projects, the effect of healthcare reform and initiatives, the mix of work between staffing and solutions, currency exchange risks, risks associated with operating in foreign jurisdictions, renegotiations, nullification, or breaches of contracts with customers, vendors, subcontractors or other parties, the change in valuation of recorded goodwill or capitalized software balances, the impact of current and future laws and government regulation, as well as repeal or modification of such, affecting the information technology (IT) solutions and staffing industry, taxes and the Company's operations in particular, industry and economic conditions, including fluctuations in demand for IT services, consolidation among the Company's competitors or customers, the need to supplement or change our IT services in response to new offerings in the industry or changes in customer requirements for IT products and solutions and other factors that involve risk and uncertainty including those listed in the Company's reports filed with the Securities and Exchange Commission as of the date of this document. Such forward-looking statements should be read in conjunction with the Company's disclosures set forth in the Company's 2015 Form 10-K, which is incorporated by reference, and other reports that may be filed from time to time with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.
Investors and Media: Brendan Harrington, Chief Financial Officer (716) 887-7244
Source:Computer Task Group, Incorporated