[January 10, 2005] Syntel Recognized as Top 100 Global IT Supplier; Named to First Annual 'Offshore 100' List Honoring Global Service Providers for Leadership, Innovation & Outstanding Performance Tweet TROY, Mich. --(Business Wire)-- Jan. 10, 2005 -- Syntel (NASDAQ: SYNT), a leading global IT services firm, announced today that it has been named to the 2005 'Offshore 100' ranking of top global suppliers by Managing Offshore and offshore outsourcing advisory expert neoIT. This is the first year that Managing Offshore and neoIT have issued the rankings. The complete list appears in the January 2005 issue of Managing Offshore and is available online at www.theoffshore100.com. Founded in 1980, Syntel has grown from a Michigan-based IT staffing company to a leading global provider of custom outsourcing solutions with over 4,300 employees, offices around the world, a Blue Chip customer base and a market cap of more than $650 million. "We are delighted to be honored by neoIT and Managing Offshore as one of the largest worldwide providers of outsourced technology services," said Bharat Desai, Syntel's Chairman and CEO. "At Syntel, we've long believed that our global delivery model is a cost effective, robust method of providing IT solutions to today's businesses. Global delivery has been steadily gaining acceptance, and we hope that this annual award will focus more attention on the benefits that may be reaped by pursuing a global IT strategy." "The ranking reflects the growing strength of the global outsourcing industry," stated Vice President of neoIT, Eugene Kublanov. "The Offshore 100 firms are witnessing the tangible effects of the offshoring trend representing over $90 billion in outsourcing revenues, and growing at a compounded annual rate of 20 percent from 2003 to 2005." Over 250 data points were analyzed from a wide range of service providers that included large multi-national firms, emerging BPO providers and small domestic IT services firms. The data points were clustered in four categories that included general company information, client data, operational capabilities and human resource policies. Respondents to the survey included firms from 13 countries around the world representing many of the most popular offshoring destinations such as India, The Philippines, China, Russia, Malaysia and Mexico. The Offshore 100 awards ceremony will be held on January 19, 2005 at neoIT's Global Outsourcing Conference at the Metropolitan Hotel in New York. About CMP's Managing Offshore CMP Media's Managing Offshore (www.ManagingOffshore.com) is a monthly newsletter for global-sourcing managers. Subscriptions to Managing Offshore include 12 monthly issues plus unlimited access to a library of previous issues, articles in HTML format, and bonus downloads such as exclusive research reports. Managing Offshore also produces the exclusive Managing Offshore Index, an interactive stock listing of 20 of the most influential providers of offshore services. About neoIT neoIT is the leading offshore advisory and management firm. neoIT focuses exclusively on assisting companies in maximizing their returns from the offshore sourcing of both information technology and business processes on either a project or enterprise wide basis. neoIT solutions deliver results in the form of cost savings, improved governance, reductions in sourcing process time and decreased risks with offshore supplier partnerships or own operations. neoIT's clients for offshore advisory and management include leading Global 5000 firms in financial services, insurance, healthcare, telecommunications, utilities, oil and gas, consumer goods, logistics, retail, entertainment, manufacturing and other industry sectors. For more information, visit www.neoit.com. About Syntel Syntel (NASDAQ: SYNT) is a leading global provider of custom outsourcing solutions in a broad spectrum of information technology and information technology-enabled services. The Company's vertical practices support the entire Design-Build-Operate-Optimize lifecycle of systems and processes for corporations in the Financial Services, Insurance, Retail, Health Care and Automotive industries. The first US-based firm to launch a Global Delivery Service to drive speed-to-market and quality advantages for its customers, Syntel now leverages this efficient model for the majority of its Global 2000 customers. Recently named one of Forbes Magazine's "Best 200 Small Companies in America," Syntel has more than 4,300 employees worldwide, is assessed at Level 5 of the SEI's CMM, BS 7799-2:2002 as well as ISO 9001:2000 certified. To learn more, visit us at: www.syntelinc.com. [ Back To TMCnet.com's Homepage ]