Profile: Syntel, Inc. (SYNT.O)

Syntel, Inc. (Syntel), incorporated in April 15, 1980, is a provider of information technology and Knowledge Process Outsourcing (KPO) services to Global 2000 companies in the financial services, healthcare, life sciences, insurance, manufacturing, automotive, retail, telecom and other industries. During the year ended December 31, 2008, the Company provided services to 109 customers, principally in the United States. The Company’s service offerings are grouped into four segments: Applications Outsourcing, KPO, e-Business and TeamSourcing. Applications Outsourcing consists of outsourcing services for ongoing management, development and maintenance of business applications. KPO consists of high-value, customized outsourcing solutions that enhance critical back-office outsourced solutions such as transaction processing, loan servicing, retirement processing, and collections and payment processing. Syntel’s primary KPO focus is in the financial services, healthcare and insurance sectors. e-Business consists of practice areas in Web solutions, Data Warehousing/Business Intelligence, Enterprise Resource Planning (ERP) and Enterprise Applications Integration (EAI) services. TeamSourcing consists of professional Information Technology (IT) consulting services.

Applications Outsourcing

Through Applications Outsourcing, Syntel provides applications management services for ongoing management, development and maintenance of customers’ business applications. Utilizing its developed methodologies, processes and tools, the Company is able to assimilate the customer’s business process knowledge in order to develop and deliver services specifically tailored for that customer. During 2008, Applications Outsourcing services accounted for approximately 67% of its total consolidated revenues.

KPO

Through KPO, Syntel provides outsourced solutions for a client’s business processes, providing them with the advantage of a low-cost position and process enhancement through optimal use of technology. Syntel uses a tool called Identeon to assist with strategic assessments of business processes, identifying the right ones for outsourcing. Syntel focuses on the middle and back-office business processes of the transaction cycle in the capital markets, banking, healthcare and insurance industries. Syntel’s insurance KPO services include claims processing and policy administration, among others. Its Financial KPO Services include investment management global operations including brokerage operations, middle office reconciliation, Transfer Agency, Fund Accounting, Performance and Attribution, Trade Processing, Compliance Monitoring, Corporate Actions, Custody Reconciliation, Hedge Fund Administration, and Data Management. KPO accounted for approximately 20%, of the total revenues during 2008.

e-Business

Through its e-Business practices, Syntel provides strategic advanced technology services for architecture, design, development, implementation and maintenance of solutions to enable customers to be more competitive. Many of the advanced technology solutions are built around utilization of the Internet and mobile devices, which have transformed many businesses. The Company provides customized technology services in the areas of Web solutions, including architecture, enablement of legacy applications and portal development. Syntel has entered into several alliances with software firms and IT application software infrastructure providers. During 2008, e-Business accounted for approximately 11%, of total consolidated revenues.

TeamSourcing

Through TeamSourcing, Syntel provides professional IT consulting services directly to customers. TeamSourcing services include systems specification, design, development, implementation and maintenance of complex IT applications involving diverse computer hardware, software, data and networking technologies and practices. TeamSourcing services are provided by individual professionals and teams of professionals dedicated to assisting customer IT departments with systems projects and ongoing functions. TeamSourcing accounted for approximately 2%, of the total revenues during2008.

The Company competes with Cognizant, Infosys Technologies, Tata Consultancy Services, Wipro Technologies, Accenture, Electronic Data Systems, IBM Global Services, HCL and WNS.