| Type | Public (NASDAQ: SYNT) |
|---|---|
| Industry | Information technology |
| Founded | Troy, Michigan 1980 |
| Founder(s) | Bharat Desai, Neerja Sethi |
| Headquarters | india, Michigan, USA |
| Number of locations | 27 offices worldwide |
| Area served | Worldwide |
| Key people | Bharat Desai, Chairman Prashant Ranade, CEO Arvind Godbole, CFO |
| Products | List of Syntel services |
| Revenue | $532 million (2010)[1] |
| Employees | over 17,600 (March, 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 March 31, 2011, Syntel has over 17,600 employees and annual revenues in excess of $532 million.
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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. .
Syntel's global headquarters is located in Troy, Michigan, in suburban Detroit. Syntel has 27 worldwide facilities, located in the Germany, Singapore, and Hong Kong. The company's offshore software development centers are located in Mumbai, Hyderabad, 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.