Expands on existing relationship to cover the Bank's global needs
Mumbai, September 1, 2005: Patni Computer Systems, Ltd. (Patni), a leading global IT services provider, today announced that it has been awarded the Application Development Outsourcing contract from leading international bank, ABN AMRO. The contract is a result of ABN AMRO's plans to further streamline its global cross-SBU IT organization.
Under the terms of the contract, Patni will be one of the top 5 preferred partners to support the Bank's global IT needs through 'Application Development, Enhancement and Support' services. ABN has a successful working relationship with Patni since 2003, primarily in North-America, in the area of application development and maintenance.
Mr Narendra Patni, Chairman and Chief Executive Officer of Patni, said, "Over the years, Patni has helped companies transform business operations by using global delivery as a strategic tool. This win is an endorsement of our approach and we look forward to partnering with ABN AMRO to successfully meet and exceed their strategic and financial objectives."
Patni Computer Systems Limited (BSE: PATNI COMPUT, NSE: PATNI, NYSE: PTI) is a global IT Services provider servicing Global 2000 clients. Patni caters to its clients through its industry-focused practices, including insurance, manufacturing, financial services, telecommunications, and its technology-focused practices.
With an employee strength of over 12,000 and multiple offshore development facilities across eight cities; Patni has 23 international offices across the Americas, Europe and Asia- Pacific. Patni has registered revenues of US$ 450 million for the year 2005.
Patni's service offerings include application development, application maintenance and support, packaged software implementation, infrastructure management services, product engineering services, business process outsourcing and quality assurance services.
Committed to quality, Patni adds value to its client's businesses through well-established and structured methodologies, tools and techniques. Patni is an ISO 9001: 2000 certified and SEI-CMMi Level 5 organization, assessed enterprise wide at P-CMM Level 3. In keeping with its focus on continuous process improvements, Patni adopts Six Sigma practices as an integral part of its quality and process frameworks.
For more information on Patni, visit www.patni.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, liability for damages on our service contracts, the success of the companies in which Patni has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
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