Syntel Earns Supplier Award From Blue Cross Blue Shield of Michigan

/ Source: GlobeNewswire

TROY, Mich., March 24, 2011 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) company, today announced that it has been named "New Supplier of the Year" by Blue Cross Blue Shield of Michigan (BCBSM) at its sixth annual Supplier Diversity Achievement Awards program.

This program is designed to recognize outstanding achievements by minority suppliers, and Syntel was recognized for its excellent client service, proactive response to industry trends, and commitment to helping BCBSM achieve its corporate goals and objectives.

"We are extremely honored to receive this award from Blue Cross Blue Shield of Michigan," said Prashant Ranade, Syntel's CEO and President. "Healthcare is a key strategic vertical for Syntel, and we look forward to a long and productive partnership with BCBSM. Our goal is to enable them to achieve greater efficiency and transparency, while navigating the changing landscape of the healthcare business."

Syntel, headquartered in Troy, Michigan, has been providing application development and maintenance services to Blue Cross Blue Shield of Michigan since mid-2010. Syntel's services for Healthcare Payers include core payer process applications, ICD-10 migration, care management workflow systems, health advocacy solutions, and Medicare/Medicaid (MMIS) solutions. 

About Blue Cross Blue Shield of Michigan

Blue Cross Blue Shield of Michigan, a nonprofit organization, provides and administers health benefits to 4.4 million members residing in Michigan in addition to members of Michigan-headquartered groups who reside outside the state. The company offers a broad variety of plans including Community Blue, Simply Blue and Healthy Blue Incentives PPOs; Blue Care Network HMO; BCN Healthy Blue Living; Flexible Blue plans compatible with health savings accounts; Medicare Advantage; Part D Prescription Drug plans; and MyBlue products in the under-age-65 individual market. BCBSM also offers dental, vision and hearing plans. Blue Cross Blue Shield of Michigan and Blue Care Network are nonprofit corporations and independent licensees of the Blue Cross and Blue Shield Association. For more company information, visit .

About Syntel

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 December 31, 2010, Syntel employed more than 17,300 people worldwide. To learn more, visit us at: .

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 September 30, 2010.

CONTACT: Jon Luebke - Syntel 248-619-3503