Kanbay

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KANBAY
Former type subsidiary
Industry Information Technology
Fate acquired by Capgemini
Founded 1989
Defunct 2006
Headquarters Chicago
Pune
Hyderabad
Chennai
Key people Raymond Spencer, Chairman
Revenue US$ 230.5 million
Employees 6500 (2006)
Website http://www.kanbay.com

Kanbay International, Inc. was a Chicago-based global information technology (IT) services firm with about 6900 associates worldwide. Founded in 1989, the organization offered management consulting, technology integration, application development, and outsourcing strategies.

On October 26, 2006, services firm Capgemini made a US$1.25 billion bid for Kanbay.

History[edit]

Kanbay was founded in 1989 by Raymond J. Spencer, Dileep Nath, and John Patterson in Chicago, IL. In August 1998, venture capital firm Safeguard Scientifics, Inc acquired an interest in Kanbay. In October 1999, Kanbay acquired Megatec, a $15 million Melbourne, Australia-based eBusiness products and solutions firm. In June 2001, Kanbay announced its ISO 9001 certification and in September it established an office in Tokyo. Kanbay inaugurated its technology center in Pune, India in October 2001.

In July 2004, Kanbay International became a publicly traded company, listing on the NASDAQ under the symbol KBAY. In early 2005, the company acquired Accurum, an IT services provider to the capital markets industry.

In early 2006, Kanbay acquired Adjoined Consulting a professional services firm. In particular, Adjoined offered formal management consulting and added its ERP implementation capability to Kanbay

Kanbay is now a division of Capgemini under the name FS-GBU (Financial Services Global Business Unit).

External links[edit]