TROY, Mich., Dec. 9, 2013 (GLOBE NEWSWIRE) -- Syntel, Inc. (Nasdaq:SYNT), a global information technology services and Knowledge Process Outsourcing (KPO) firm, today announced it has inaugurated a new development center in Manila, Philippines to expand the Company's capacity to deliver solutions for its clients.
Syntel's new Manila center is located in the McKinley Hill Cyber City Development, an IT park certified by the Philippine Economic Zone Authority (PEZA).
With an initial capacity of 325 employees, Syntel's Philippines facility will deliver IT and KPO services, and is part of Syntel's strategy of expanding the geographic footprint of its delivery capabilities.
The Manila center enables Syntel to leverage the excellent English language skills and domain expertise available in the Philippines, including healthcare. In addition, the facility is located in a Philippines PEZA Special Economic Zone, created by the Philippines government to promote investment, extend assistance, grant incentives and tax relief, and facilitate business operations inside selected areas.
"We are extremely excited to begin working in the Philippines," said Prashant Ranade, Syntel CEO and President. "Access to the best available global talent is critical to our continued success, and our Manila facility enables us to tap into a new and highly skilled workforce to deliver services to our clients."
"In addition, the Government of the Philippines provides a great deal of support for businesses looking to expand there," said Ranade. "We have already experienced a high degree of cooperation in planning and setting up this new facility, and we look forward to a long and productive future in the Philippines."
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 9001:2008 certified. As of September 30, 2013, Syntel employed more than 22,000 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, 2012, the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 or from other factors not currently anticipated.