Syntel

Type	Public (NASDAQ: SYNT)
Industry	Information technology
Founded	Troy, Michigan 1980 (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
Products	IT Services, KPO
Revenue	$642.4 million (2011)
Employees	over 19,400 (Dec, 2011)
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 the United States.

Syntel was founded in Troy, Michigan in 1980 with an initial investment of $2,000. Its founders were Bharat Desai,who received an MBA in finance from Stephen M. Ross School of Business, University of Michigan and a Bachelor of Technology degree from the Indian Institute of Technology (IIT) Bombay, Mumbai, India, and Neerja Sethi. Originally named Systems International, the company began providing software staffing services to local corporations, earning $30,000 in its first year.

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.

As of Dec 31, 2011, Syntel has over 19,400 employees and annual revenues in excess of $642 million.

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 1999, 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. .

Worldwide Offices

Syntel's global headquarters is located in Troy, Michigan, in suburban Detroit. Syntel has 27 worldwide facilities, located in the USA, UK,Germany, Singapore, Australia 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.

Syntel also opened the first phase of its new 27-acre (110,000 m²) technology campus in Chennai, India in May, 2010. The Chennai campus currently has capacity for 1,700 developers, with plans to eventually expand the facility to accommodate a staff of 10,000.

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;
• 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 than $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 Syntel CEO; Syntel opens the first phase of its Chennai technology campus

• Banking & Financial Services
• Insurance
• Health Care
• Manufacturing/Automotive
• Retail
• Telecommunications
• Logistics

External links

• Syntel, Inc. website