TROY, Mich., April 15, 2010 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today celebrates its thirtieth anniversary in business. Co-founders Bharat Desai and Neerja Sethi founded Syntel with a commitment to deliver value and innovation to clients, an underlying value proposition that has not changed despite the tremendous evolution in the information technology service provider landscape.
"In 1980, we started Syntel out of our apartment in Troy, Michigan with a $2,000 investment," said Bharat Desai, Syntel's Chairman. "Over the past three decades, technology has undergone a vast change, shifting out of the back office to become an integrated driver of a corporation's ability to succeed and compete. We're proud that Syntel has been a partner to enable many of our clients to capitalize on this shift."
Desai added, "Another trend that goes hand-in-hand with the technology shifts we have seen is the changing role service providers like Syntel play in an organization's business. In 1980, service providers like Syntel delivered contract programming services. Today, Syntel works side-by-side with clients to develop and execute business and technology strategy and initiatives."
Syntel enters its fourth decade of business with a focus on targeted industry solutions to help clients capture new markets by harnessing the power of technology, re-engineer their businesses, and apply Lean principles to boost effectiveness and efficiency.
"I am proud that Syntel has navigated substantial business and cultural changes, continually adapting to remain at the forefront of our industry. Our client focus and entrepreneurial spirit have been the keys to Syntel's success in this journey. I look forward to the changes the next thirty years will bring!" concluded Desai.
Today, Syntel has more than 12,500 employees globally, operates multiple world-class Global Development Centers and Campuses in the U.S. and India, and provides targeted IT and KPO services to some of the biggest brands in the world. The Company has a strong balance sheet and has reported a profit each year of its existence.
About Syntel
Syntel (Nasdaq:SYNT) 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.