TROY, Mich., March 29, 2010 (GLOBE NEWSWIRE) -- Syntel (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced it has signed a partnership with MEGA, a leading solutions provider in the governance, risk, and compliance (GRC) market, to provide MEGA's enterprise and operational risk management, internal audit and compliance solutions to its customers worldwide.
Under the terms of the agreement, Syntel will provide a range of cost-effective technology-based services for MEGA's GRC suite of products along with its existing portfolio of operational risk services. Together, MEGA and Syntel will deliver an integrated and streamlined solution to address governance, risk and compliance challenges including ERM and ORM services.
The MEGA Suite offers a central platform to enable companies to evaluate enterprise risks, measure the efficiency of internal control systems, and manage global audit teams.
"We are very pleased to offer MEGA's GRC solutions to our customers," said Prashant Ranade, Syntel CEO and President. "Today's enterprises must be more attuned than ever to issues of risk and compliance. The combination of MEGA Suite products and Syntel's team of specialists will help our clients make better business decisions and transform risk management to a proactive model, reducing exposure to possible loss."
"Syntel has a 30-year history of providing innovative technology solutions to their clients, and we are proud that they are adding our software to their suite of offerings," said Lucio de Risi, CEO, MEGA. "Our software, coupled with Syntel's implementation and integration expertise, offers a unique value proposition essential for a seamless and cost-effective GRC program for organizations."
Syntel offers a comprehensive suite of IT and KPO services for Fortune 500 clients across the banking & financial services, insurance, healthcare, life sciences, retail, and manufacturing industries.
In addition to product implementation, system integration and support services, Syntel's Risk & Compliance services also include Basel II Credit Risk and Operational Risk frameworks, Basel II Pillar 2 frameworks, anti-money laundering/fraud services and comprehensive Risk Report Repository.
About MEGA
MEGA International provides software solutions for business process analysis, enterprise architecture, IT planning, IT systems analysis and design, enterprise governance, risk and compliance, enterprise risk management, operational risk management, internal audit and compliance, and specialized consulting services. Based on the powerful MEGA Suite technology, MEGA Solutions are used by more than 70,000 people worldwide. Clients include AT&T, DirecTV, Morgan Stanley, NASA, Nissan, Renault, UniCredit Group, Wyeth, and the U.S. Departments of Agriculture, Homeland Security, and Transportation.
For more information, visit www.mega.com.
About Syntel
Syntel is a leading global provider of integrated Information Technology and Knowledge Process Outsourcing (KPO) solutions spanning the entire lifecycle of business and information systems and processes. The Company is driven by its mission to create new opportunities for clients by harnessing the passion, talent and innovation of Syntel employees worldwide. Syntel leverages dedicated Centers of Excellence, a flexible Global Delivery Model, and a strong track record of building collaborative client partnerships to create sustainable business advantage for Global 2000 organizations. Recently named one of the "50 Best Managed Global Outsourcing Vendors" by The Black Book of Outsourcing, Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2000 certified. As of December 31, 2009, Syntel employed more than 12,500 people worldwide. To learn more, visit us at: www.syntelinc.com.
Safe Harbor Provision
This news release includes forward-looking statements, including with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Form 10-K document dated March 15, 2010.