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Syntel Named to Software Magazine's 25th Annual Software 500

Software Magazine Ranks Syntel as one of the World's Largest Software Companies

Syntel today announced its inclusion on the Software Magazine's Software 500 ranking of the world's largest software and service providers, now in its 25th year. This represents the first time Syntel has been named on this list.

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.

"Being recognized as one of the largest software companies in the world America is an honor for Syntel," said Syntel Chairman and CEO Bharat Desai. "As businesses software requirements continue to evolve, become more complex and integrated, Syntel remains focused on working side-by-side with our clients to build quality software systems that deliver innovation and sustainable business results."

"The 2007 Software 500 results show that growth in the software and services industry was healthy from 2006 to 2007, the ranking year. The industry continues to be dynamic with more than 98 new companies on the list this year for the first time," says John P. Desmond, editor of Software Magazine and Softwaremag.com. "The top four business sectors this year are System Integration Services/IT Consulting, Application Development, Financial Applications and Security Tools/Systems. It may be the case that difficulty companies have in developing and keeping their own IT skilled workers, is driving demand for services firms.

"Total employee head count is up 14.7 percent from the previous year's Software 500, reversing the decline of last year. Sectors seeing the highest rates of employee growth included Search/Portal tools, Security/Tools/Systems, Messaging/Communications and Wireless/Mobile," Desmond says. "In addition, about 73 percent of the Software 500 companies saw revenue growth in 2006."

"The Software 500 helps CIOs, senior IT managers and IT staff research create the short list of business partners," Desmond says. "It is a quick reference of vendor viability. That is content of value."

Syntel was ranked 118 this year, the first time the company has appeared on the list, with software revenue of $248.6 million