Syntel — the American IT service provider. The headquarters is in Michigan (USA). The company has several development centers in India. By July 23, 2018 the number of staff of Syntel is about 23 thousand human.
According to information on the website Syntel, the company helps "to the world enterprises to develop the main IT applications, infrastructure and business processes, using possibilities of intellectual automation, scalability of the Agile methods and cloud solutions".
Performance Indicators
In 2017 revenue of Syntel made $923.8 million, having decreased by 4.4% of rather previous year. Net profit reached $166 million whereas in 2017 equal $57 million losses took place.
History
2018: Atos purchased Syntel for $3.57 billion
On July 23, 2018 the French IT company Atos announced Syntel purchase. The cost of the transaction taking into account debts to the sold company is $3.57 billion.
Under the terms of the agreement, Atos will pay $41 for the stocks Syntel that is 4.78% more than a quotation rate by the time of closing of the exchange on July 20, 2018. The transaction was approved by Board of Directors of Syntel, and now profile regulators should state the solution.
Atos expects to strengthen due to merger of Syntel positions in the North American market. Syntel closely cooperates with the companies from the sector of financial services, including American Express and State Street Bank and also with firms from health sector and retail. More than two thirds of revenue of the company are the share of 10 biggest customers.
Speaking about advantages of Syntel, the head of Atos Thierry Breton pointed to cloud computing of the company and also for its work in spheres of social networks, mobile applications, analytical solutions and means for automation.
Within the transaction of Atos is going to achieve synergy of income in the amount of $250 million by 2021 thanks to simultaneous service offering of the companies to the European and American clients. The head of Syntel Rakesh Hanna will become the member of executive committee Atos.[1]
Notes
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