Syntel
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| Type | Public (NASDAQ: SYNT) |
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| Founded | Troy, Michigan 1980 |
| Founder(s) | Bharat Desai, Neerja Sethi |
| Headquarters | Troy, Michigan, USA |
| Number of locations | 27 offices worldwide |
| Area served | Worldwide |
| Key people | Bharat Desai, Chairman Prashant Ranade, CEO Arvind Godbole, CFO |
| Industry | Information technology |
| Products | List of Syntel services |
| Revenue | $410.4 million (2008) |
| Employees | over 11,400 (September 2009) |
| Website | http://www.syntelinc.com |
Syntel, Inc. (NASDAQ: SYNT) is a global provider of Information Technology (IT) and Knowledge Process Outsourcing (KPO) solutions, with global development centers in India, and US.
Syntel was founded in Troy, Michigan in 1980 by Indian Bharat Desai, a graduate of University of Michigan’s Stephen M. Ross School of Business and Neerja Sethi with an initial investment of $2,000. Originally named “Systems International,” the company began providing software staffing services to local corporations, earning $30,000 in its first year.
As of September 30, 2009, Syntel has over 11,400 employees and annual revenues in excess of $410 million.
On February 1, 2010, Syntel announced the promotion of Prashant Ranade to the position of CEO. Founder and former CEO Bharat Desai will continue to serve as Chairman of the Board, and is the majority shareholder.
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[edit] Global Delivery
Syntel's rapid growth during the early years prompted its leadership to begin exploring additional service offerings to augment its core IT staffing business.
In 1988, Syntel began providing development and maintenance services to its clients. With the addition in 1992 of its first wholly-owned development centers in India, Syntel began offering software outsourcing services on an onsite/offshore model, which connected software developers in India to project managers at the client's location via an international telecommunications network.
This model allowed Syntel to offer the cost of offshore labor rates with the flexibility and responsiveness of onsite project management. This method of IT service delivery is now widely known as the Global Delivery Model, and Syntel was among the first US-based companies to offer this service to its clients.
[edit] Worldwide Offices
Syntel's global headquarters is located in Troy, Michigan, in suburban Detroit. Syntel has 27 worldwide facilities, located in the United States, India, England, Germany, Singapore, and Hong Kong. The company's offshore software development centers are located in Mumbai, Chennai, and Pune, India. Its US-based development centers are located in Phoenix, Arizona; Nashville, Tennessee; and Memphis, Tennessee.
Syntel's Mumbai development centers currently employ over 4,000 software professionals, with another 2,000 located in Chennai. In 2004, Syntel broke ground on a new technology campus in Pune, India. The first phase, opened in 2005, has capacity for 3,000 employees. When completed, the facility will house over 9,000 software engineers. Construction is also underway on a new 27-acre (110,000 m2) technology campus in Chennai, India, with the first phase expected to be completed in the fourth quarter of 2009.
[edit] Company history
- 1980: Syntel founded as a staff augmentation firm, an offering later known as TeamSourcing.
- 1988: Syntel begins providing full lifecycle maintenance, development, and migration services, which later evolve into the IntelliSourcing service offering.
- 1992: Syntel opens its first two Global Development Centers in Mumbai and Chennai India, making it one of the first U.S.-based IT service companies to employ a global delivery model.
- 1994: Syntel’s revenues top $50 million and employs over 1,000 staff.
- 1994: Syntel opens a third Global Development Center in Cary, North Carolina, which serves as US hub for Syntel's global voice and data network.
- 1997: Syntel becomes a public company in August, as the stock begins trading on NASDAQ as SYNT; 3.45 million shares floated in its Initial Public Offering (IPO); Syntel opens offices in London and Singapore; revenues pass the $100 million mark.
- 1998: Syntel's Mumbai and Chennai Global Development Centers earn ISO 9001 certification; Syntel ranked #2 in Forbes’ “200 Best Small Companies in America”
- 2000: Syntel begins exploring BPO service offerings by migrating its own HR, Finance and Helpdesk operations from the US to India.
- 2001: Syntel’s Global Development Centers assessed at SEI CMM Level 5, making Syntel one of only 15 U.S. companies to achieve this standard; Syntel opens healthcare-focused Global Development Center in Nashville, TN and a regional office in Munich, Germany.
- 2002: Syntel opens Global Development Centers in Phoenix, AZ and Pune, India.
- 2003: Syntel’s Global Development Centers in Mumbai and Chennai achieve ISO 9001:2000 certification.
- 2004: Syntel opens dedicated BPO center in Mumbai; Syntel’s Global Development Centers achieve BS 7799 security certification.
- 2005: Syntel's Global Development Centers achieve SEI CMMi Level 5; Syntel opens the first phase of its Pune Technology Campus. Syntel acquires a 27-acre (110,000 m2) parcel of land in Chennai for a second technology campus.
- 2008: Syntel breaks ground on its Chennai technology campus and records more that $400 million in revenues for the first time.
- 2009: Syntel promotes Keshav Murugesh to the post of President & CEO. Bharat Desai remains as Chairman of the Board.
- 2010: Prashant Ranade becomes CEO.
[edit] Fact Sheet
| Contact information | 525 E. Big Beaver, Suite 300 Troy, Michigan 48083 Tel: 248-619-2800 Fax: 248-619-2888 |
| Notable Partners | Ab Initio, Actuate, BEA Systems, Borland, Business Objects, Citrix, Cognos, First Data, IBM, Identify Software, Informatica Corporation, Mercury Interactive, Microsoft, MicroStrategy, Oracle Corporation, Serden Technologies, Sun Microsystems, TIBCO, Vianeta Communications |
| Industries Served | |
| Quality Certifications | SEI CMMi Level 5, ISO 9001:2000, ISO 27001, Project Management Institute (PMI) |
| Services |
Applications Outsourcing: Custom Application Development, Maintenance, Platform Migrations/Enhancements. (67% of revenues) KPO: Accounts Payable, Accounts Receivable, Administration, Billing, Bookkeeping, Call Center, Claims Processing, Contract Management, Customer Service, Distribution Services, Due Diligence, Financial Services, Helpdesk, Logistics, Payment and Collection Services, Payroll, Sales and Marketing, Staffing, Strategy and Analysis, Telemarketing and Transaction Processing. (20% of revenues) e-Business: Web Architecture/Integration, Data Warehousing, Customer Relationship Management (CRM), Enterprise Application Integration (EAI), Business Exchanges/Marketplaces. (10% of revenues) TeamSourcing: IT staff augmentation (3% of revenues) |
| Minority Certifications | Certified as a Minority Business Enterprise by the Michigan Minority Business Development Council and several other supplier diversity organizations. |
