TROY, Mich., Feb. 21, 2011 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced that the International Association of Outsourcing Professionals (IAOP) has named it to the Global Outsourcing 100® for the fifth consecutive year.
The 2011 Global Outsourcing 100 recognizes the world's best outsourcing service providers, which are judged by an independent panel of experts from the business and academic communities.
"The companies on The Global Outsourcing 100 and The World's Best Outsourcing Advisors lists are proven leaders and rising stars," said IAOP Chairman Michael Corbett, also chair of the judges' panel. "They are the companies you want to partner with to achieve success and better outsourcing outcomes."
IAOP's selection process takes into account factors like a firm's ability to create value for customers, depth and breadth of competencies and top management talent, as well as company size and growth rates.
"Syntel continued to grow during 2010 despite a challenging market," said Syntel CEO and President, Prashant Ranade. "We recorded our most successful yearly financial performance to date, with revenue growing by 27% to over $530 million – a strong indicator that our investments in talent, infrastructure and service offerings are paying off."
The complete rankings will be published in the May 23rd issue of FORTUNE® magazine in a special advertising feature produced by IAOP.
About IAOP
The International Association of Outsourcing Professionals® (IAOP®) is the global, standard-setting organization and advocate for the outsourcing profession. With more than 110,000 members and affiliates worldwide, IAOP helps companies increase their outsourcing success rate, improve their outsourcing ROI, and expand the opportunities for outsourcing across their businesses. To learn more, visit www.outsourcingprofessional.org.
About The Global Outsourcing 100
The International Association of Outsourcing Professionals® (IAOP®) is in its sixth year of compiling its annual ranking of the world's best outsourcing service providers and advisors – The Global Outsourcing 100. The Global Outsourcing 100 and its sub-lists are essential references for companies seeking new and expanded relationships with the best companies in the industry. The lists include companies from around the world that provide the full spectrum of outsourcing services — not just information technology and business process outsourcing, but also facility services, real estate and capital asset management, manufacturing and logistics. They include not only today's leaders, but tomorrow's rising stars.
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. Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2000 certified. As of December 31, 2010, Syntel employed more than 17,300 people worldwide. To learn more, visit us at: www.syntelinc.com.
Safe Harbor Provision
This news release includes forward-looking statements, including those 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 Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2010.