Cognizant, a leading provider of information technology, consulting, and business process outsourcing services, has joined the Fortune 500, ranked by Fortune Magazine. Cognizant is ranked at number 484, with $4.59 billion in annual revenue for 2010, the company said in a statement.

“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 — to deliver a distinctly superior experience to our clients,” said Francisco D'Souza, President and CEO.

“With major structural forces impacting every industry we service, we believe our robust business model will continue to help us provide innovative, next-generation solutions and services to our clients — many of whom are among the Fortune 500 as well —and help them achieve new levels of business performance, more collaborative and virtual ways of working, and deeper connections with their customers.”

As of March 31, 2011, Cognizant employs 1.11 lakh people worldwide serving over 700 clients, the release added.