BNET Industries

Market Cap:$353.3M
Last Fiscal Year Sales:$218.7M
  • Public
  • US
Dow Jones Description

iGATE (NASDAQ:IGTE) is the first outsourcing solutions provider to offer a business outcome based pricing model through a fully integrated technology and operations (iTOPS) structure with global service delivery. iGATE works with clients to optimize their businesses, secure substantial and sustainable year-on-year cost benefits, tie costs to business needs and results. iGATE provides consulting; IT services; data warehouse; business intelligence solutions; enterprise solutions; BPO/business service provisioning; contact center and infrastructure management services. The company has been assessed at CMMI Level 5, follows Six Sigma methodologies and is COBIT, ISO 9001 and ISO 27001 certified, ensuring the highest levels of quality and data security. iGATE has presences in 12 countries and manages global delivery centers in the United States, Mexico, Australia, Malaysia and India. It is also rated as the most respected IT employer in India.

CEOPhaneesh Murthy
Number of Employees 6,658
Contact Information

6528 Kaiser Drive

Fremont, California 94555

www.igatecorp.c...

(412) 787-2100

NAICS Code Custom Computer Programming Services: 541511

Recent Events

  • Igate Corp.s profit falls to $5M

    4/22/09 - Financial Announcement - View Story

  • IDEA Cellular Selects Veraz's I-Gate 4000 EDGE Media Gateway for MSC Interconnection

    4/14/09 - Licensing / Contract - View Story

  • Igate, Tokyo-based CAC team up to pursue outsourcing deals with Japanese companies

    3/22/09 - Joint Venture / Alliance - View Story

  • UPDATE 1-India's Spice joins race for fraud-hit Satyam 

    1/30/09 - Merger / Acquisition - View Story

  • iGate an interested in Satyam

    1/23/09 - Stock Split / Dividend - View Story

  • UPDATE 1-IGate Q4 results miss analysts' estimates

    1/21/09 - Financial Announcement - View Story

News & Analysis

igate - All News and Analysis

  • iGATE Corp. Q1 2008 Earnings Call Transcript

    Seeking Alpha - 2008-05-09

    Question-and-Answer SessionOperator Thank you very much, sir. At this moment, I would like to hand over the proceedings to WebEx International moderator to conduct the Q&A session for participants connected to WebEx International. After this, we will have a question-and-answer session for participants connected to India. Thank you, and...

    Tags: iGATE

  • iGate Corporation Q4 2007 Earnings Call Transcript

    Seeking Alpha - 2008-03-10

    Question-and-Answer SessionOperator Our first question comes from the line of Brian Kinstlinger with Sidoti & Company. Please proceed with your question. Brian Kinstlinger - Sidoti & Company Good. First question I want to ask is about as you see the business as going forward and you divest...

    Tags: iGATE

  • iGate Corporation Q3 2007 Earnings Call Transcript

    Seeking Alpha - 2007-10-25

    Earnings Call Excerpt iGate Corporation IGTE Q3 2007 Earnings Call Oct 25, 2007, 9:00 a.m. ET Executives Mr. Sunil Wadhwani - Chief Executive Officer and Co-Founder Mr. Phaneesh Murthy- Chief Executive Officer Mr. Mike Zugay- Chief Financial Officer Mr. N. Ramachandran - Chief Financial Officer...

    Tags: iGATE

  • Computerworld Honors Program Enlists iGATE CEO to Chairmen's Committee

    - 2007-09-04

    Bob Carrigan, Chairman of the Computerworld Honors Program Chairmen's Committee and President of IDG Communications, has announced that Phaneesh Murthy, Chief Executive Officer and Managing Director, has joined its prestigious Chairmen's Committee.

    Tags: Computerworld, iGATE

  • Indian outsourcing firms eye US subprime crisis

    - 2007-08-30

    BANGALORE, India AFP — Indian outsourcing firms nervously hope the US loan crisis does not deteriorate as the business of processing mortgages in their biggest market dries up and some clients keel over. Firms such as iGate Global Solutions and WNS that serviced American mortgage lenders are already feeling...

    Tags: Agence France-Presse, FINANCE, iGATE, India, mortgage, Mortgages, Outsourcing, revenue

Decision Makers

Name (plus bio) Position
Phaneesh Murthy CEO
Hari Murthy Chief Sales & Marketing Officer
Sean Narayanan Chief Delivery Officer
Sujit Sircar Chief Financial Officer
Elangovan Kulandaivelu Vice President, Practice Head North America Delivery
Srinivas Vijayaraghavan Vice President, Mortgage Banking USA
Ashok Trivedi Co-Founder
Srinivas Kandula Global Head, Human Resources
Sumit Ganguli Head, Consulting & Mergers/Acquisitions

Board of Directors

Name (plus bio) Position
Sunil Wadhwani Co-Chairman
Edward Yourdon Board of Directors
Goran Lindahl Board of Directors
J. Gordon Garrett Board of Directors
Michel Berty Board of Directors

Phaneesh Murthy is currently the CEO of IGate Global Solutions. Prior to iGate, Phaneesh was the driving force behind the growth of Infosys. He was responsible for ramping up Infosys from around $2mn in 1992 to around $700 mn in 10 years. Till July 2002, Phaneesh was Member, Board of Directors and Head - Sales & Marketing and Communication & Product Services (CAPS) of Infosys Technologies Ltd. He was also the Chairman of Progeon Ltd, a BPO subsidiary promoted by Infosys. Phaneesh has considerable expertise in growing large organizations, and putting in place the infrastructure to scale. He brings over a decade of experience in structuring and managing large outsourcing deals for Fortune 500 companies. Phaneesh holds a Bachelors' degree in Mechanical Engineering from the Indian Institute of Technology, Chennai, and a Master's in Business Administration from the Indian Institute of Management, Ahmedabad. Phaneesh joined the Board of SlashSupport in February 2003 and provides guidance to the Company's management team, particularly in sales and marketing activities.

Organization Position Status
iGate Global Solutions Ltd. CEO Current
iGate Corporation CEO Current
Primentor, Inc. Founder, Primentor Current
iGate Global Solutions Ltd. Chairman, Igate Global Solutions Current
Cybernet Software Systems, Inc. Board of Directors Current
Slashsupport, Inc. Member of the Board of Directors Current
iGate Corporation Board of Directors Current
Infosys Technologies Limited Former
Future Soft Inc. Former
Progeon Limited Chairman Former
Indian Institute of Management Master's In Business Administration Former
Indian Institute of Technology Bachelors' Degree In Mechanical Engineering Former
Organization Position Status
iGate Corporation Chief Sales & Marketing Officer Current
Hexaware Technologies Inc. Current
Organization Position Status
iGate Corporation Chief Delivery Officer Current
iGate Corporation Senior Vice President, Practice Head Ims, Bi, Dw Former
The University of Oklahoma Masters Degree Former

Sujit Sircar is the Vice President of Finance and is based out of the Bangalore office. He has over 14 years of experience in handling different portfolios in finance. Prior to joining iGATE, Sujit was the manager for financial planning in Wipro British Telecom Limted. He has also been the finance in charge of Electronic Commerce and Software Product Division in Wipro Limited. Sujit is a professionally qualified chartered accountant and his hobbies include reading Books, exploring new gadgets, playing with his two daughters and going on a long drive.

Organization Position Status
iGate Corporation Chief Financial Officer Current

Elangovan Kulandaivelu currently heads IT services Delivery for North America. Elan brings with him a significant amount of Global Delivery experience having managed delivery for clients in US, Europe and Japan. Prior to joining iGATE, Elan worked at Infosys as a Delivery Manager where he managed development of cutting edge, mission critical products and projects in the distribution domain for Global Fortune 1000 clients. Elan holds a Bachelors Degree in Production Engineering from Regional Engineering College, Trichy, India.

Organization Position Status
iGate Corporation Vice President, Practice Head North America Delivery Current

Srinivas heads iGATE's Mortgage Banking Business Unit, and is also the CEO of LoanPro, a subsidiary of iGATE that offers private labeled loan fulfillment solutions to mortgage banking clients in the United States. Srinivas has over thirteen years of experience in technology and process outsourcing for various domains such as retail, healthcare and financial services. In his previous employment with a large software services major, he was involved in a number of large, full life cycle, strategic sourcing initiatives. Srinivas has an MBA from Indian Institute of Management, Ahmedabad, and a B.Tech from Indian institute of Technology, Kharagpur.

Organization Position Status
Loanpro CEO Current
iGate Corporation Vice President, Mortgage Banking USA Current
iGate Corporation CEO Former
Indian Institute of Management Mba Former
Indian Institute of Technology Former
Organization Position Status
Igate Mastech Co-Founder & Mastech Board Member Current
Elaunchpad, Inc President & Co-Founder Current
Mastech Co-Founder Current
iGate Corporation Co-Founder Current
iGate Global Solutions Ltd. Current
iGate Corporation Co-Chairman Current
Pittsburgh Technology Council Board of Directors Current
Siliconindia, Inc. Board of Directors Current
Elaunchpad, Inc Board of Directors Current
Sourcingiq Board of Directors Current
iGate Corporation President Former
Harvard Business School President Management Program Former
Unisys Corporation Product Manager Former
Ernst & Young Former
Ohio University Master's In Business Administration Former
Delhi University Masters Former
Delhi University Bachelors In Physics Former

Dr Srinivas Kandula is the head for Human Resources at iGATE. He is a HR Generalist with over 18 years of hands-on and minds-on experience in all the facets of Human Resource Management. Prior to joining iGATE he was responsible for the entire human resource function in Sasken Communication Technologies Ltd. His contributions contributed largely to Sasken being recognized 'The Best Employer' in Business Today- Mercer Survey and 'Great Places to Work' in Grow Talent-Business World Survey and being figured in the top 20 companies of DQ-IDC Survey. Prior to joining Sasken, he was Chief Manager of Corporate Human Resource at Power Grid Corporation of India Ltd. Srinivas has done Masters in HR from Campus Faculty, Andhra University and Doctoral Thesis on ' Alignment Between Corporate Restructuring Strategies and Human Resource Intervention in BT-Top 500 Companies' from XLRI, Jamshedpur. He has published over 60 papers and 8 books in the areas of Strategic Human Resource Development, Performance Management, Organization Development and Self- Development published by International publishers in multiple languages. He is a preferred speaker in HR forums of NASSCOM, CII, National HRD Network and lectures on special invitation at XLRI, MDI, ASCI and IIMs. His hobbies include professional writing, career empowerment of rural youth and watching movies.

Organization Position Status
iGate Corporation Global Head, Human Resources Current
Powergrid, Inc Chief Manager Former
Andhra University Masters In Hr Former
Xavier Labour Relations Institute Former

Sumit Ganguli is the Chief Sales Officer for iGATE Global Solutions. Sumit brings many years of international experience in sales, corporate management and M&A, of which last 13 years have been in the US. Prior to joining iGATE Global, Sumit was the CEO of a publicly listed IT solutions company. Sumit has been a founding employee and Executive Vice President of a global IT Services company, part of a $ 1B diversified Indian conglomerate, responsible for its US and European operations.

Organization Position Status
iGate Global Solutions Ltd. Chief Sales Officer Current
iGate Corporation Head, Consulting & Mergers/Acquisitions Current
IT Services, LLC Executive Vice President Former
Indian Institute of Management Post Graduate in Management Former
Organization Position Status
Mastech Holdings, Inc. Interim President & Chief Executive Officer Current
iGate Corporation Co-Chairman Current
Carnegie Mellon University Board of Directors Current
Sourcingiq Board of Directors Current
Edelweiss Capital Limited Board of Directors Current
iGate Global Solutions Ltd. CEO and Co-Founder of Igate Corporation Former
iGate Corporation Chairman & CEO Former
Carnegie Mellon University Master's Degree In Management Former
Indian Institute of Technology Undergraduate Degree In Technology Former
Organization Position Status
Njspin Expert Witness and Computer Consultant Current
Ed Yourdon Expert Witness and Computer Consultant Current
iGate Corporation Board of Directors Current
University of North Texas Fellow Current
Harvard Corporation Former
University of California, Los Angeles Former
Organization Position Status
iGate Corporation Board of Directors Current
Nanomix, Inc. Chairman, Sony Group Europe Former
Chalmers University of Technology Doctorate Degree In Technology Dsc Former
Chalmers University of Technology Master of Science In Electrical Engineering Former

Mr. J. Gordon Garrett born on September 28, 1939 in Montreal, Canada has a BE in Electrical Engineering from McGill University and is also a PE (Professional Engineer). He joined IBM Canada in 1961 and held various senior management positions including General Manager of the General Systems Division and General Manager of the General Business Group responsible for Sales, Manufacturing and Development for Office Products and General Systems Products. He was also a member of the Board of Directors of IBM Canada. In 1977, he was General Manager for the General Business Group, IBM Northern Europe In 1980, Mr. Garrett moved to the USA (Greenwich, CT) to develop IBM's strategy to market their products using outside distribution channels in addition to their own sales force. He implemented this strategy as General Manager of the Distribution Channels Business Unit. In 1987, he retired from IBM and from 1987 to 1991 Mr. Garrett was Chief Executive Officer of Gestetner, USA. In 1991, IBM asked Mr. Garrett to found an computer services outsourcing company in Canada by acquiring two publicly traded companies and use this as a base for a new services strategy which later became a core business for IBM. IBM initially owned 25% of the newly formed company, which quickly became very successful, winning several $100 million a year contracts with companies such as Air Canada, Bank National, the Governments of Saskatchewan and Manitoba as well as 5 telephone companies. While Mr.Garrett was President, Chief Executive Officer and Chairman of the Board of ISM Information Systems Management Corporation from '91 to '95, ISM became the largest information systems outsourcing company in Canada. From 1995 to 2000, Mr. Garrett was the Chief Executive Officer for Ricoh Canada and Senior Vice President of Ricoh Corporation USA. He restructured Savin Canada, Gestetner Canada and Ricoh Canada into Ricoh Canada, into a strong number three in the document management market. In 1999 Mr. Garrett founded Interloci Network Management Inc. Interloci developed and markets a network management and security appliance NetworksAOK. He is a member of the Board of iGATE Capital Corp., USA.

Organization Position Status
IBM Canada Ltd. General Manager General Systems Division Current
ISM Information Systems Management Corporation Chairman of Board Current
iGate Corporation Board of Directors Current
iGate Corporation Professional Engineer Former
Air Canada Former
IBM Canada Ltd. Member of the Board of Directors Former
McGill University Bachelor of Engineering - Electrical Engineering Former

Michel Berty, one of the directors at iGATE Corporation, is the owner of MBY Consultant, Inc., which provides IT consulting and services. He has just been appointed Chairman/CEO of Security Biometrics (SBTI Nasdaq) which specializes in signature recognition. He is also the U.S. President of PAC US, a European consulting firm specializing in IT strategy and market surveys. Prior to this, Mr. Berty was the founder, Chairman and CEO of Cap Gemini America, the American subsidiary of one of the largest IT consulting and services firms in the world, and one of the top executives of the Cap Gemini Group for 25 years. Mr. Berty is a director of companies such as Merant and Sapiens (both Nasdaq), Buysmart and Netgain, to name a few. He was also a board member of The French Trade Center, the Conseillers du Commerce Exterieur (CCE) in Paris, and the French American Chamber of Commerce in New York. He has 30 years of experience in various aspects of IT consulting and services. Educated in France, he holds a PhD in physics from the Sorbonne and an MBA.

Organization Position Status
iGate Global Solutions Ltd. Owner of Mby Consultant, Inc. Current
iGate Corporation Board of Directors Current
Merant Director Current
Net Gain Company Director Former
Sorbonne University PhD In Physics Former
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     IGTE $6.66 -0.26 (-3.76% )
Average Volume 119,540
Shares Outstanding 54.20M
Market Cap 361.0M
Year High 12.02
Year Low 2.11
Earnings Per Share N/A
P/E Ratio -
Dividend N/A
Yield N/A
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