TROY, Mich., Oct. 14, 2010 (GLOBE NEWSWIRE) -- Syntel (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced it has been named to Software Magazine's Software 500 ranking of the world's largest software and services providers.
Syntel climbed five spots to rank #114 overall, with a growth rate of four percent.
"The 2010 Software 500 results show that the software and services industry remains healthy, with total Software 500 revenue of $491.7 billion worldwide for 2009," said John P. Desmond, editor of Software Magazine and Softwaremag.com. According to Desmond, Syntel's growth outperformed the overall industry, which saw revenues remain virtually flat over the past year.
Syntel CEO Prashant Ranade attributed the Company's growth to the competitive edge that Syntel delivers to its clients.
"Syntel provides the speed, scale and flexibility to help our clients reduce costs, drive innovation and transform their technology investments into strategic tools to create competitive advantage," said Ranade.
The Software 500 is a revenue-based ranking of the world's largest software and services suppliers targeting medium to large enterprises, their IT professionals, software developers and business managers involved in software and services purchasing.
About Digital Software Magazine, the Software Decision Journal, and Softwaremag.com
Digital Software Magazine, the Software Decision Journal, has been a brand name in the high-tech industry for 30 years. Softwaremag.com, its Web counterpart, is the online catalog to enterprise software and the home of the Software 500 ranking of the world's largest software and services companies. Software Magazine and Softwaremag.com are owned and operated by King Content Co.
Syntel (Nasdaq:SYNT) is a leading global provider of integrated information technology and Knowledge Process Outsourcing (KPO) solutions spanning the entire lifecycle of business and information systems and processes. The Company is driven by its mission to create new opportunities for clients by harnessing the passion, talent and innovation of Syntel employees worldwide. Syntel leverages dedicated Centers of Excellence, a flexible Global Delivery Model, and a strong track record of building collaborative client partnerships to create sustainable business advantage for Global 2000 organizations. Syntel is assessed at SEI CMMi Level 5, and is ISO 27001 and ISO 9001:2000 certified. As of June 30, 2010, Syntel employed more than 14,900 people worldwide. To learn more, visit us at: www.syntelinc.com.
Safe Harbor Provision
This news release includes forward-looking statements, including those with respect to the future level of business for Syntel, Inc. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2010.
CONTACT: Syntel, Inc. Jon Luebke 248/619-3503 firstname.lastname@example.org Software 500 Tracy Kunichika Tracyk@softwaremag.com