Bangalore: Cognizant Technology Solutions Corporation, a leading application management and e-business solutions provider, on November 6 announced that it has been picked as the top technology company in the Forbes 2002 list of best small companies in America, according to a press release.

"Cognizant has established itself as a leader in the fast-growing offshore outsourcing market in a relatively short time, by building a leading fourth generation offshore services business model," Cognizant chairman and chief executive officer Kumar Mahadeva said.

Forbes evaluated companies based on five-year sales and earnings per share (EPS) growth rates. In order to qualify for the list, a company was required to demonstrate both a five-year average return on equity and a net margin of at least five per cent, the release said.

Cognizant's fourth generation model is focussed not just on technology, but also on delivering measurable business results. For example, Cognizant's transformational outsourcing offering can completely transform a client's application portfolio and IT organization, the release added.