IGATE Inaugurates IGATE Corporate University

IGATE today launched the IGATE Corporate University a sprawling training and development facility in Pune.Spread across 37 acres of land on the foothills of the picturesque Western Ghats, the facility can accommodate more than 750 trainees simultaneously with residential facilities and world-class co-curricular and extra-curricular amenities such as club house, swimming pools and food courts.

Inaugurating the facility, Mr. Kenyon-Slaney said, “IGATE is our strategic partner for the state-of-the-art Rio Tinto Innovation Centre. The centre, which is also based here in Pune, is crucial to supporting the global growth and development of our Mine of the Future™ program. We look forward to seeing the IGATE Corporate University play a leading role in the development of the next generation of world-class talent and technical capabilities in India.”

Ashok Vemuri, President and CEO IGATE, said, “It is a seminal moment for us. People are our biggest assets and we believe in richly investing in them, nurturing them to become the leaders of tomorrow. I foresee the IGATE Corporate University significantly enabling our employees to be best prepared for our journey of growth.”

Dr. Srinivas Kandula, EVP and Chief People Officer, IGATE, said, “We have collaborated with BITS Pilani, Symbiosis and XLRI to begin with and are well on course to have tie ups with several globally renowned educational institutions. The focus will essentially be on developing Leadership Quotient, Technology Quotient, and Social Quotient in the real world.”

iGate's Q2 net profit declined to USD 3.1 million due to debt repayment of $51.8 million

 iGate's net profit declined by 89.6 per cent to USD 3.1 million for the quarter ended June 30, 2014 mainly due to  one-time charge of $51.8 million arising from debt settlement.

Second Quarter Highlights

Revenues were $ 311.7 million
Increased 10.1% compared to $283.3 million in the second quarter of 2013
Increased 3.2% sequentially compared to $302.2 million in the first quarter of 2014

Gross margin was 36.6%
Compared to 37.9% in the second quarter of 2013
Compared to 37.5 % in the first quarter of 2014

Adjusted EBITDA was $70.0 million
Compared to $66.2 million in the second quarter of 2013
Compared to $75.2 million in the first quarter of 2014
Net Income  was $3.1 million (after a one-time charge of $51.8 million arising from the extinguishment of  debt)
Compared to $30.0 million in the second quarter of 2013
Compared to $31.6 million in the first quarter of 2014

#Earnings #SujitSircar, CFO #IGATE: We reduced more than $50 million in interest cost annually on a Q1 run rate basis http://t.co/XyUwmUbXc8
— IGATE_Corp (@IGATE_Corp) July 16, 2014

Non GAAP diluted Earnings per share were $0.48
Compared with $0.44 in the second quarter of 2013
Compared with $0.45 per share in the first quarter of 2014
Diluted earnings per share were $(0.07) GAAP (after a one-time charge of $51.8 million arising from the extinguishment of debt)
Compared to $0.28 GAAP in the second quarter of 2013
Compared to $0.29 GAAP in the first quarter of 2014

The Company added nine new clients including five Global 2000 companies during the second quarter

As of June 30, 2014, the Company had 32,742 employees with a net addition of 1,907
Ashok Vemuri, President and Chief Executive Officer, IGATE said, “Our new brand identity and redesigned value proposition has resonated well with all our stakeholders. We continue to invest in technology and process capabilities with specific focus on our Digital Practice. The verticalization strategy we implemented at the beginning of the year has started yielding dividends with overall growth across industry segments.”

Sujit Sircar, Chief Financial Officer, IGATE said, “We successfully refinanced the high yield bonds placed in 2011 at a much lower interest cost subsequent to the rating upgrades from S&P and Moody’s. This has enabled us to reduce more than $50 million in interest cost annually on a Q1 run rate basis.”

#Earnings #SujitSircar, CFO #IGATE: We are closely watching the forex headwinds with the appreciation of INR against the USD.
— IGATE_Corp (@IGATE_Corp) July 16, 2014

“We are happy to have maintained our margin levels despite the salary increase this quarter; however we are closely watching the forex headwinds with the appreciation of the Rupee against the U.S. Dollar,” he added.

9% decline in net profit for iGATE in Q1

IT Outsourcing  firm iGate reported a 9% decline in net profit to $31.6 million for the first quarter ended March 31, 2014 as against a net profit of $34.8 million in the corresponding quarter last fiscal.

First Quarter Highlights

Revenues were $302.2million
Increased 10% compared to $274.9 million in the first quarter of 2013
Increased 1% sequentially compared to $299.3 million in the fourth quarter of 2013
Net Income attributable to iGATE Corporation was $31.6 million
Compared to $34.8 million in the first quarter of 2013
Compared to $33.1 million in the fourth quarter of 2013
Gross margin was 37.5 %
Compared to 38.1% in the first quarter of 2013
Compared to 39.8% in the fourth quarter of 2013
Diluted earnings per share were $0.29 GAAP and $0.45 non-GAAP
Compared to $0.34 GAAP and $0.51 non-GAAP in the first quarter of 2013
Compared to $0.30 GAAP and $0.49 non-GAAP in the fourth quarter of 2013
Adjusted EBITDA was $75.2 million
Compared to $65.5 million in the first quarter of 2013
Compared to $74.7million in the fourth quarter of 2013
The Company added nine new customers during the first quarter
As of March 31, 2014, the Company had 30,835 employees with a net addition of 1,102

Ashok Vemuri, President and Chief Executive Officer, iGATE said, “We had an encouraging start to the year with a 10% y-o-y growth in revenues. Overall market conditions appear to be favorable across the board. With our healthy pipeline, along with the timely rollout of investments in people and solutions, we believe we are well positioned for sustainable growth.”
Sujit Sircar, Chief Financial Officer, iGATE said, “We successfully secured financing to redeem our $770 million 9% Senior Notes through a combination $325 million of new 4.75% senior notes due in 2019 and bank financing.  This refinancing is expected to yield significant cost savings over the coming quarters. I am also pleased with the Company’s cash-flow position during the quarter. However, the rupee fluctuation due to forex headwinds will be a concern, as we continue to grow our profits.”

Key contracts won during the First Quarter
A leading mining company based in Europe with its operations poised to grow organically selected iGATE as a strategic IT Services partner in a multi-year, multi-million dollar engagement. As part of the contract, iGATE will provide enterprise application management services for the client’s ERP system, and implement optimization processes and content management applications for its users. iGATE will also provide an end-to-end fuel management system to enable the client to improve on the fuel consumption efficiency levels leading to significant costs savings.
A leading apparel retailing company in North America selected iGATE as its IT partner to drive efficiency in its distribution models. As part of the strategy, the client will transition to an omni-channel retail environment, with the new order management systems supported by iGATE. This will lower the operating costs and consolidate operations thus facilitating process efficiency. iGATE will also support integration and testing of the client’s new product life management system.
A large global financial institution based in North America selected iGATE as a strategic IT partner to provide testing and validation services for their core-banking program.  As part of the multi-million dollar contract, iGATE will leverage the bank’s existing program in a ‘box validation framework’.  iGATE’s rich experience in working with the banking industry and its repository of prebuilt process models along with best practices and test scenarios made it a natural choice as a trusted partner for the engagement.
A large independent brokerage company based in North America selected iGATE as its IT partner to provide quality assurance services for its new customer facing services.  This multi-million dollar deal leverages iGATE's solution assurance service model that enables customers to make more frequent and faster quality releases.  iGATE will provide ongoing release and configuration management solutions that will facilitate the client to service its customers faster and better with its newer functionalities and capabilities.
iGATE has been engaged by a global restaurant chain based in North America to assist it in the architecture and design of its next generation digital platform.  This platform plays a significant role in the client’s strategy to design a customized customer experience, thus facilitating greater product choice, better value and product information that appeal to a broader spectrum of customers.

Key Highlights and Recognitions during the First Quarter
Ashok Vemuri was elected to the Board of IT Governors at The World Economic Forum, Davos. As part of the Board, Ashok will contribute to the fulfillment of the Forum’s IT agenda.
iGATE bagged the coveted “Fun @ Work” award for 2013 at the World HRD Congress. The award recognizes iGATE for its innovative efforts in employee engagement making it an employee-friendly company.
iGATE won the VCCircle Awards under the category- Best PE/VC backed IT Company of the Year 2013. This was the third edition of VCCircle Awards, India's only platform that recognizes the best performing private equity or venture capital-backed companies and transaction advisors.
The second edition of the iGATE CEO Golf Tournament was conducted at Pinehurst Resort & Country Club, North Carolina. Conducted in association with Forbes and co-hosted by golfing icon Gary Player, the event witnessed CEOs of Global 2000 companies golfing for a noble cause. The winners donated $120,000 to their favorite charities.
iGATE was ranked as a high performer in the enterprise mobility space by HfS Research – a leading independent analyst authority and community for the global business services and outsourcing industry. iGATE has been rated high for its capabilities in execution and innovation in the new age mobile technologies and platforms.

iGATE Reports Financial Year 2013; Revenues up 7.2%; Net Income up 35.5%

iGATE Corporation (iGATE or the Company) (NASDAQ: IGTE), the first integrated Technology and Operations (iTOPS) company providing "Business Outcomes" based solutions, today announced its financial results for the fourth quarter and year ended December 31, 2013.
Fourth Quarter Highlights
·         Revenues were $299.3 million

o    Increased 10.2% compared with $271.6 million in the fourth quarter of 2012

o    Increased 2.0% sequentially compared with $293.4 million in the third quarter of 2013


·         Net Income attributable to iGATE Corporation was $33.1 million

o    Compared with $30.8 million in the fourth quarter of 2012

o    Compared with $31.9 million in the third quarter of 2013


·         Gross margin was 39.8%

o    Compared with 40.6% in the fourth quarter of 2012

o    Compared with 41.4% in the third quarter of 2013


·         Diluted earnings per share were $0.30 GAAP and $0.49 non-GAAP

o    Compared with $0.30 GAAP and $0.45 non-GAAP in the fourth quarter of 2012

o    Compared with $0.30 GAAP and $0.46 non-GAAP in the third quarter of 2013


·         Adjusted EBITDA was $74.7 million

o    Compared with $71.2 million in the fourth quarter of 2012

o    Compared with $78.4 million in the third quarter of 2013


·         The Company added nine new customers during the fourth quarter, including five Fortune 1000 companies


·         As of December 31, 2013, the Company had 29,733 employees with a net addition of 1,450.


Full Year Highlights for the year ended December 31, 2013

Revenues for the year were $1,150.9 million
Compared with $1,073.9 million for the year ended December 31, 2012
Net Income attributable to iGATE Corporation was $129.8 million
Compared with $95.8 million for the year ended December 31, 2012
Gross margin was 39.3%
Compared with 39.5% for the year ended December 31, 2012
Diluted earnings per share were $1.21 GAAP and $ 1.88 non-GAAP
Compared with $0.85 GAAP and $1.56 non-GAAP for the year ended December 31, 2012
Adjusted EBITDA was $284.8 million
Compared with $271.4 million for the year ended December 31, 2012
Ashok Vemuri, President and Chief Executive Officer, iGATE, said, “I am happy with the Company’s performance in 2013 and particularly pleased with the nature of large deals signed during the year. We have successfully finished regrouping the organization into vertical-based business units that bring in more industry knowledge and solutions, move us closer to the customer, and increase the depth and accountability to the business. I am confident that we are poised for a faster pace of growth in 2014.”

Sujit Sircar, Chief Financial Officer, iGATE, said, “I am pleased with our growth in net income in 2013 while we continue to deliver strong earnings per share. In order to better position us to create more shareholder value, we entered into a credit agreement during the fourth quarter and expect this to lower our debt servicing cost and therefore better our earnings and profitability from 2014.”

Orange Selects iGATE to Deliver Large Transformation Programme in Switzerland

iGATE Corporation (iGATE), the first Integrated Technology and Operations (iTOPS) company providing Business Outcomes-based solutions, today announced that it has secured a new five-year contract with Orange Communications SA (Orange Switzerland) to transform the telecom provider’s IT infrastructure and rationalize its vendor landscape in Switzerland.
Johan Hall, Chief Technology Officer of Orange Switzerland says, “iGATE stood out as the best choice to help us achieve our aim of delivering exceptional service to our customers with improved efficiency. Beyond demonstrating their depth and IP-led capability, iGATE showed that they understood our business requirements and responded with flexibility and innovation. We look forward to working together in the years ahead.”

Derek Kemp, Executive Vice-President and Head of Europe & Australia, iGATE says, “We are excited to begin our partnership with a leading telecom provider. Backed by our innovative business model and global delivery capabilities, we look forward to partnering with Orange Switzerland to support and transform the way it serves its customers and manages its operations. Our proven strength in the areas of Enterprise Solutions, Infrastructure Management and Business Intelligence will play a central role in delivering this success.”

The contract was awarded following a rigorous selection process run by Orange Switzerland. The engagement represents a significant industry win for iGATE as it reinforces its position in the European telecom sector.

In its partnership with Orange Switzerland, iGATE will take responsibility for transforming and managing all enterprise systems, including ERP, Business Intelligence, Infrastructure and Data Network & Telephony services. iGATE will also provide Infrastructure as a Service for Orange Switzerland and specific partners – as well as a multilingual service desk to monitor and report all vendor performance metrics. The data centre is operated through Equinix in Zurich where iGATE also has contracts with other Swiss companies from the finance and insurance sectors.
About Orange Communications SA
Orange Communications SA is the challenger in the Swiss mobile market. Orange stands for exceptional service and says ‘You bet you can’ to its customers as often as we can. Only Orange permanently offers its 1.69 million customers the fastest internet connection, including 4G/LTE with up to 150 Mbit/s, at no extra cost. The Orange mobile network covers 99% of the population in Switzerland and is ranked among the best in Switzerland; according to the renowned trade magazine connect. Only with Orange Me, customers are able to adapt their subscription according to their needs. Only Orange has the fastest hotline in Switzerland. Only Orange offers its business customers a personal adviser together with efficiency-enhancing integrated mobile and fixed line network solutions. Orange has 939 employees and is present with 94 Orange Centers and with more than 2700 outlets across Switzerland. Orange Communications SA is a wholly owned subsidiary of Matterhorn Mobile SA, a company indirectly majority-owned by funds advised by Apax Partners LLP.

About iGATE

iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes -based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information. iGATE Corporation is listed on NASDAQ under the symbol "IGTE."

iGATE Wins Healthy Workplace Gold Level Award

iGATE Corporation (“iGATE” or “the Company”) (NASDAQ: IGTE) – the iTOPS-based outcomes-driven IT solutions provider has been conferred with the Gold Level Award in the Healthy Workplace 2013 survey. Arogya World – the global health non-profit organization, conducted the first edition of this survey in India as part of the Clinton Global Initiative Commitment to Action leveraging workplaces as platforms for wellness advancement and chronic disease prevention.
The Healthy Workplace criteria were organized into three levels – Bronze, Silver and Gold – and included work-life balance and shifting mind-set metrics, in addition to a workplace no-tobacco-use policy, as well as ready access to healthy foods and opportunities for physical activity. iGATE was assessed by a three-person team that scored the company’s activities including site visits.
Commenting on the award, Nalini Saligram, Founder and CEO, Arogya World, said, “I congratulate iGATE on conforming to the Gold Level of Healthy Workplaces 2013. We have designed this ambitious and pioneering public health initiative to leverage the workplace as a platform for preventing Non-Communicable diseases (NCDs). iGATE has scored high in all the criteria while we hope this will motivate others companies to follow suit and join us on this journey to prevent chronic disease in a generation of Indians.”
Accepting the award, iGATE, in a statement said, “We are happy that our endeavors to make iGATE a healthy place to work have been duly recognized. We have been making conscious efforts in designing our policies and methods that promote a healthy work style in the company. We thank Arogya World for this award and we at iGATE look forward to partnering with them on their noble cause across the globe.”
Arogya World has announced a new Commitment to Action at the 2013 Clinton Global Initiative (CGI) Annual Meeting pledging to get 100 companies in India to become recognized as Healthy Workplaces by 2016, helping one million of those who work there lead healthy lives.
About iGATE
iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE's multi-location global organization has a talent pool of more than 28,000 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.iGATE.com for more information.

About Arogya World
Arogya World (www.arogyaworld.org) is a global health non-profit organization, committed to changing the course of chronic disease, one community at a time. Arogya means ‘good health’ in Sanskrit and denotes living life without disease. The organization believes deeply in prevention and is implementing programs for diabetes prevention through lifestyle changes in schools, workplaces and the community, in India. mDiabetes is a CGI Commitment the organization has just completed.  To further advance this work, Arogya World India Trust has been set up in Bangalore.

About the Clinton Global Initiative (CGI)
Established in 2005 by President Bill Clinton, the Clinton Global Initiative (CGI), an initiative of Bill, Hillary & Chelsea Clinton Foundation, convenes global leaders to create and implement innovative solutions to the world’s most pressing challenges. CGI Annual Meetings have brought together more than 150 heads of state, 20 Nobel Prize laureates, and hundreds of leading CEOs, heads of foundations and NGOs, major philanthropists, and members of the media. To date CGI members have made more than 2,300 commitments, which are already improving the lives of more than 400 million people in over 180 countries. When fully funded and implemented, these commitments will be valued at $73.5 billion.
CGI also convenes CGI America, a meeting focused on collaborative solutions to economic recovery in the United States, and CGI University (CGI U), which brings together undergraduate and graduate students to address pressing challenges in their community or around the world, and, this year, CGI Latin America, which will bring together Latin American leaders to identify, harness, and strengthen ways to improve the livelihoods of people in Latin America and around the world. For more information, visit clintonglobalinitiative.org

iGATE Reports Strong Third Quarter

iGATE Corporation (“iGATE or the “Company”; NASDAQ:IGTE), the first integrated Technology and Operations company providing Business Outcomes-based solutions, today announced its financial results for the third quarter and nine months ended September 30, 2013.


Third Quarter Financial Highlights


·         Revenues increased by 8.2% year-over-year and 3.6% sequentially

o    $293.4 million in Q3, 2013 compared to  $271.1 million in Q3, 2012 and $283.3 million in Q2, 2013

·         Net Income attributable to iGATE Corporation increased by 12.7% year-over-year and 6.3% sequentially

o    $31.9 million in Q3, 2013, compared to $28.3 million in Q3, 2012 and $30.0 million in Q2, 2013

·         Gross margin was 41.4%, an increase compared to 39.8% in the corresponding quarter of 2012

·         GAAP diluted EPS  increased by 11.1%

o    $0.30 per share  in Q3, 2013 compared to $0.27 per share in Q3, 2012

·         Non GAAP diluted EPS  was $0.46 per share in Q3, 2013

·         iGATE added eight new customers during the quarter including two Fortune 1000 companies

·         The Company ended the third quarter of 2013 with over 28,200 employees



Ashok Vemuri, President and CEO, said, “I am pleased with our ability to accelerate revenue growth both sequentially and year-over-year.   I am also happy with the quality of deals we are winning that are longer-term in nature with focus on innovation and productivity gains to our customers.”



“Our iTOPS model is a clear differentiator in the IT services marketplace.  Clients are increasingly looking for partners to deliver solutions that can integrate emerging technologies with business process expertise to drive innovation and value.  This is what our iTOPS model does and its increasing acceptance positions the company well among its competitors,” he added.



Sujit Sircar, CFO, said, “Overall it has been a very good quarter for iGATE. Our operational efficiencies coupled with a positive gain out of the Indian Rupee depreciating against the U.S. Dollar resulted in an expansion of our margins and earnings. We also generated $86 million of operating cash during the quarter which is another positive.”



“The forex tailwinds however seem to have settled down with the Rupee gaining marginal stability over the past couple of weeks,” he added.

About Business Outcomes



iGATE’s industry-first Business Outcomes-based approach focuses on the realization of tangible and measurable results, unlike traditional models, which are driven by work, effort, time and manpower. By integrating technology and processes in a proprietary way and pricing services on results, iGATE exchanges fixed costs for a variable cost structure in an attempt to get clients to pay-for-results-only while enabling them to adjust to the peaks and valleys of their demand.



About iGATE



iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of over 28,200 employees and consistently delivers effective solutions to over 300 clients including Fortune 1000 companies spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; communication, energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information.



iGATE Corporation is listed on NASDAQ under the symbol "IGTE."

iGATE partners with hybris to Accelerate Growth in Global Commerce Market

iGATE (NASDAQ: IGTE), the first integrated technology and operations company providing Business Outcomes-based solutions, today announced its multi-regional Gold partnership status with hybris, an SAP company and the world’s fastest-growing commerce platform provider. iGATE is leveraging hybris to accelerate the global commerce success of the leading Fortune 500 companies.

As the global commerce market continues to grow, enterprises are challenged by the ever increasing need to efficiently create and manage omni-channel and multi-lingual sites. In the partnership, iGATE provides strategic consulting, site design, and systems integration to ensure that enterprises fully capitalize on the power of the hybris platform.

Sanjay Tugnait, EVP, Head of Sales - North America and Global Head of Alliances at iGATE said, “In today’s marketplace it is imperative for organizations to consistently engage their clients with commerce sites across multiple channels and create an exceptional omni-channel user experience. We have been making strategic investments in the e-Commerce space and our partnership with hybris enables us to deliver leading omni-channel commerce solutions to a broader client base and help global companies implement these solutions more effectively.”

Today’s multi-touchpoint market often requires integration across multiple systems to create a unified and compelling user experience across all devices. With the ever growing shift to mobile devices and social networks, iGATE has developed a robust expertise and global workforce to enable agile commerce solutions for all these touchpoints.

Frank Schoutissen, Vice President Channels at hybris said, “We are seeing increased traction in the marketplace and the partnership with iGATE as a multi-regional Gold partner will help us address this need. hybris’ Commerce Suite will help iGATE to deliver omni-channel commerce solutions to their clients and enable them to adapt to changing consumer needs.”

Recent successes include enterprise implementations and global expansion for Fortune 500 clients in healthcare, manufacturing, distribution, retail and media/publishing industries. Sites included B2C, B2B and B2E multi-channel commerce environments with real-time order management and analytics.

Shobha Meera, Vice President, Alliances at iGATE said, “The partnership combines iGATE’s e-Commerce expertise with hybris’ modern, agile and comprehensive commerce platform, which provides customers both a technology as well as an implementation partner to improve the overall customer experience. This partnership will enhance the already growing acceptance of this service in the customer markets. We are now able to create a uniform and compelling customer experience in complex environments for clients in different industries, which open up new business opportunities for both our companies.”

About iGATE

iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information.

 iGATE Corporation is listed on NASDAQ under the symbol "IGTE."

About hybris, an SAP Company
hybris helps businesses around the globe sell more goods, services and digital content through every touchpoint, channel and device. hybris delivers OmniCommerce™: state-of-the-art master data management for commerce and unified commerce processes that give a business a single view of its customers, products and orders, and its customers a single view of the business. hybris' omni-channel software is built on a single platform, based on open standards, that is agile to support limitless innovation, efficient to drive the best TCO, and scalable and extensible to be the last commerce platform companies will ever need.  Both principal industry analyst firms rank hybris as a “leader” and list its commerce platform among the top two or three in the market. The same software is available on-premise, on-demand and managed hosted, giving merchants of all sizes maximum flexibility. Over 500 companies have chosen hybris, including global B2B sites W.W.Grainger, Rexel, General Electric, Thomson Reuters and 3M as well as consumer brands Toys“R”Us UK, Metro, Bridgestone, Levi's, Nikon, Galeries Lafayette, Migros, Nespresso and Lufthansa. hybris is the future of commerce™. For more information, visit www.hybris.com.

iGATE features in the top quadrant of Zinnov’s 2013 GSPR ratings

iGATE Corporation (NASDAQ:IGTE), the first Business Outcomes driven integrated Technology and Operations (iTOPS) solutions provider, today announced that it has been placed in the top quadrant of “Established and Expansive” players for the third consecutive year in Zinnov’s  Global Service Provider Ratings – 2013. iGATE ranks in the leadership zone in four sub-verticals that it primarily focuses on viz. Medical Devices, Automotive, Industrial Automation and Computer Peripherals and Storage.

The Zinnov Global Service Provider Ratings 2013 ranks top global service providers from across geographies such as India, China, Russia and Eastern Europe. All participating companies are assessed on parameters like Human capital, product development capabilities, financials, ecosystem linkages, infrastructure, innovation and IP creation.

Commenting on the rankings, Mr. Satish Joshi, EVP and Head of Product and Engineering Solutions, iGATE, said, “We are pleased to have been featured in the Zinnov GSPR Rankings in leadership positions. This reiterates the innovation culture that permeates through iGATE across verticals. We at iGATE recognize that innovation is the key focus area to continually create value for our customers. Complemented by our Business Outcomes model, our innovation initiatives render a competitive edge to our customers”.

“iGATE has a dedicated team of researchers and experts forming the Research & Innovation Group that focuses on delivery innovation, technology incubation, business analysis and incubation and industry thought leadership through relevant market research. We will continue to encourage this environment of innovation in our organisation and build IPs and strategic innovations to provide best-in-class services to our customers”, Satish added.

About Zinnov Management Consulting

Founded in 2002, Zinnov – meaning Zeal in Innovation – is a leading management consulting company providing advisory services in the area of Global Sourcing, Emerging Markets Expansion and Human Capital Optimization to Fortune 1000 and reputed SMB companies. Zinnov works collectively with clients to tackle prevailing organizational challenges by analyzing the changing dynamics, improving performance, and building institutional capability. The services delivered to its clients through advanced reasoning and analytical techniques, provides solutions that help in integrating organizational vision, business definition and processes.

About iGATE

iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information.
 

iGATE Selected as IT Testing Partner for Associated Banc-Corp

iGATE Corporation (NASDAQ:IGTE), the first Business Outcomes-driven integrated Technology and Operations (iTOPS) solutions provider, today announced that it has signed a multi-year deal to setup and establish a Testing Center of Excellence (TCoE) and provide quality assurance (QA) testing services for the IT applications portfolio of Associated Banc-Corp, one of the top 50, publicly traded, U.S. bank holding companies. Under the agreement this TCOE will perform testing services for all applications in the areas pertaining to Retail Banking, Commercial Banking, Private Client Services and Shared Services. As a part of the TCOE, iGATE will drive efficiencies by standardizing and centralizing the testing function through the introduction of proprietary tools and solutions resulting in year-on-year efficiency improvement.


iGATE will be leveraging its deep domain experience and prior experience in setting up similar TCOE’s  to help deliver superior value to clients and enable business readiness through cost optimization, predictable quality, and improved speed to market.


Sanjaya Senanayake, Senior Vice President, Director of Technology Infrastructure, Associated Banc-Corp, said, “With the expanding complexities of business and increasing regulatory requirements, especially in the banking industry, testing plays a critical role to mitigate business catastrophes. iGATE’s technology expertise coupled with our innovative products will allow us to offer a seamless and high-quality customer experience”.


Commenting on this engagement with Associated Banc-Corp, Sanjay Tugnait, EVP, Head of Sales - North America and Global Head of Alliances, iGATE, said, “iGATE continues to be seen as a pioneer at multiple facets in the industry. This engagement adds another key milestone in our journey towards the success of our testing practice. This innovative platform and operating framework will become transferable to many of our other global clients in the BFSI sector and other Industries”

Through the TCoE, iGATE will provide a wide portfolio of testing services which includes setting up a centralized testing center of excellence which will cater to a wide array of testing services required by Associated Banc-Corp. The testing services provided include, but are not limited to, Sanity Test/Smoke Test, Functional Test, Interface Testing, System Integration Test, Regression Test, Mobile Application Test, DWH Testing, Test Automation, Non Functional Testing (Performance Testing, Security Testing).

Manish Sharma, AVP- Banking, iGATE, added, “With this Testing Center of Excellence, iGATE will perform end to end testing for the bank’s entire gamut of IT applications. The Testing COE framework is application and service line agnostic, which enables us to be transparent about the process and governance and then draw clear lines of responsibility and shared risk for all parties.”

iGATE has a matured testing practice comprising of a team of over 2,600 testing professionals delivering projects for over 100 customers. Apart from having alliances with all major vendors for testing tools, iGATE has its own set of tools and solution frameworks to drive efficiencies and productivity improvements.

About Associated Banc-Corp

Associated Banc-Corp (NASDAQ: ASBC) has total assets of $24 billion and is one of the top 50, publicly traded, U.S. bank holding companies. Headquartered in Green Bay, Wis., Associated is a leading Midwest banking franchise, offering a full range of financial products and services through approximately 240 banking locations serving more than 150 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio and Texas. Associated Bank, N.A. is an Equal Housing Lender, Equal Opportunity Lender and Member FDIC. More information about Associated Banc-Corp is available at www.associatedbank.com.


About iGATE

iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information.

iGATE Corporation is listed on NASDAQ under the symbol "IGTE."

About Business Outcomes

iGATE’s industry-first Business Outcomes-based approach focuses on the realization of tangible and measurable results, unlike traditional models which are driven by work, effort, time and manpower. By integrating technology and processes in a proprietary way and pricing services on results, iGATE exchanges fixed costs for a variable cost structure in an attempt to get clients to ‘pay for results only’ while enabling them to adjust to the peaks and valleys of their demand.
 

iGATE to participate in Sibos 2013, the world’s premier financial services event

iGATE Corporation (NASDAQ:IGTE), the first Business Outcomes driven integrated Technology and Operations (iTOPS) solutions provider, today announced that it will be participating in Sibos 2013, an annual conference, exhibition and networking event organized by SWIFT for the financial industry to be held from September 16 - 19, 2013, at the World Trade Centre in Dubai, UAE. iGATE will exhibit its cutting edge outcomes based technology solutions in Reference data management, Trade Processing, Global Trade Services and SWIFT messaging services.

iGATE’s portfolio of solutions to be showcased at Sibos 2013 are targeted to address a wide range of business imperatives across financial industry. iGATE’s iTOPS framework combines technology and operations and is tailored to drive high value business outcomes for the clients.


·         iGATE’s Reference Data Management engagements help spot data sourcing redundancies, streamline  trade execution, reduce operational risks and ensure regulatory compliance.

·         iGATE’s Integrated Transaction Manager (ITM)consists of Middle Office Solution, Managed Accounts Trading Service (MATS), and Standing Settlement Instruction (SSI) Manager. Comprehensive, yet simple, these middle office suite of products address the needs of trade processing by reducing operational costs and risks, increasing efficiency and accuracy and managing smooth communication for better trade execution.



·         iGATE’s Global Trade Services helps improve visibility into the financial supply chain, accelerate cash flow and reduce risk through a combination of technology, trade documentation experts and best-in-class processes in order to address the changing demands of the trade processing landscape.



·         iGATE’s offerings in SWIFT, helps banks and financial institutions to embrace emerging trends in SWIFT messaging services and evaluate communications platform and  products. iGATE primarily focuses on services such as Electronic Bank Management (eBAM), ISO 20022 standardization framework and Quality assurance service framework for SWIFT’s standard release.



On Day 2 of the event, iGATE will also be conducting a presentation on ‘Pay only for business outcomes for the Securities Industry’ to be delivered by Ravindranath Singh, Director of Strategic Initiatives - Financial Services, iGATE. Through this session, iGATE will illustrate applications of business outcomes model for sustainable securities operations: Middle-Back Office, Reference Data, Corporate Actions, Client Onboarding, OTC Derivatives Processing and Reconciliations.



About Sibos

Sibos is an annual conference, exhibition and networking event organized by SWIFT for the financial industry. What started out as SWIFT’s international banking operations seminar has grown into a premier business forum for the global financial community to debate and collaborate in the areas of payments, securities, cash management and trade. Please visit www.sibos.com for more information.


About SWIFT

SWIFT is a member-owned cooperative through which the financial world conducts its business operations with speed, certainty and confidence. More than 10,000 financial institutions and corporations in 212 countries trust SWIFT every day to exchange millions of standardized financial messages. This activity involves the secure exchange of proprietary data while ensuring its confidentiality and integrity. SWIFT also brings the financial community together to work collaboratively to shape market practice, define standards and debate issues of mutual interest. Sibos is SWIFT’s flagship event. Please visit www.swift.com for more information.


About iGATE

iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information.

iGATE Corporation is listed on NASDAQ under the symbol "IGTE."


About Business Outcomes

iGATE’s industry-first Business Outcomes-based approach focuses on the realization of tangible and measurable results, unlike traditional models which are driven by work, effort, time and manpower. By integrating technology and processes in a proprietary way and pricing services on results, iGATE exchanges fixed costs for a variable cost structure in an attempt to get clients to ‘pay for results only’ while enabling them to adjust to the peaks and valleys of their demand.

iGATE invites Indian CEOs for the iGATE CEO Cup

iGATE, the NASDAQ-listed leading outsourcing services company, announced today the opening of entries for CEOs of Indian Companies, part of prestigious Global 2000 list, to take part in the second edition of the iGATE CEO Cup Golf tournament. This first-class championship-style golf tournament will be held March 21 – 22, 2014, at Course No. 2 and Course No. 8 of the legendary Pinehurst Resort & Country Club in North Carolina, USA. Grand Slam champion Gary Player will co-host the iGATE CEO Cup just as he did for the inaugural tournament last year.

The announcement was marked with a special unveiling of the CEO Cup winner’s trophy, world’s largest and heaviest gold sports trophy designed by India-based Guinness World Record holder, Amit Pabuwal at Jai Mahal Palace, Jaipur. The cup is larger than the iconic FIFA World Cup trophy and will be flown back to the USA where it will be permanently housed.

Designed by renowned sculptor Amit Pabuwal, based in Jaipur, India, the iGATE CEO Cup trophy is 21-inches-tall and one-and-half times bigger than the iconic FIFA World Cup Trophy. It is a priceless creation made with 8.6 kilograms of gold and emblazoned with diamonds and rubies.

On the special unveiling of the iGATE CEO Cup, Guinness World Record holder Amit Pabuwal said, "Designing record-breaking masterpieces that create history has been my passion. For a prestigious corporate event like the iGATE CEO Cup, such a magnificent trophy is befitting. This is not just the world's most extravagant trophy but also a world treasure and a piece of heritage for generations to preserve. History has been created."

Pabuwal is distinguished for his work, creating one-of-a-kind trophies for many sporting events. He holds the world’s highest credentials in trophy making while crafting several world cups, acclaimed for their design and workmanship. Most notably, he designed the world’s first Guinness world-record silver trophy Trilok Rachna.

Commenting on the tournament, Gary Player, said, "The iGATE CEO Cup has created a thrilling format for a charitable tournament with CEOs representing many of the world's top companies playing for a noble cause. Following the inaugural iGATE CEO Cup earlier this year, I am happy to continue my involvement as the tournament now moves to Pinehurst Resort & Country Club, and include an international field of CEOs from across the globe.”

In 2014, the iGATE CEO Cup will have a global scope as CEOs of Global 2000 companies will be invited to compete for total prize money of $120,000, with the ‘Player of the Tournament’ winning $40,000 - double the amount of the inaugural event.  Winners will donate their prize money to the charities of their choice.

“I am looking forward to another successful tournament, and will be interested to see who lifts the world's largest gold trophy in 2014," said Player.


Gary Player, an original inductee into the World Golf Hall of Fame, is widely regarded as one of the greatest golfers in history. The South African native has won 165 tournaments over his career spanning six decades, including nine major championships on the regular tour, and nine major championships on the Senior Tour. He is one of only five golfers – and the only non-American golfer – to win the coveted career Grand Slam.

Recognized around the globe as the Black Knight and the International Ambassador of Golf, Player is also a renowned golf course architect with over 325 design projects on five continents. Black Knight International, the company founded by his son Marc Player, includes Gary Player Design, Player Real Estate, Black Knight Enterprises and The Player Foundation, which has a primary objective of promoting education for underprivileged children around the world.

The World’s Heaviest and Largest Gold Trophy

The iGATE CEO Cup winner’s trophy is the world’s largest and heaviest gold trophy, designed by India-based Guinness World Record holder, Amit Pabuwal.  A priceless creation, the 21-inches-tall iGATE CEO Cup is one and one-half times bigger than the FIFA World Cup trophy - the largest trophy so far.  The trophy is made with 8.6 kilograms of gold and emblazoned with diamonds and rubies.

The Venue

Located in the North Carolina heartland, Pinehurst Resort & Country Club, established in 1895, is a 2,000-acre property featuring an award-winning spa, eight golf courses, tennis, and activities for the family.  Widely known as the cradle of American golf, Pinehurst has hosted more single golf championships than any other site in America, including the U.S. Open, PGA Championship, Ryder Cup Matches, TOUR Championship and many others.  It will serve as the site of both the U.S. Open and U.S. Women’s Open Championships in 2014.

The inaugural iGATE CEO Cup Golf Tournament, held in January this year, at TPC® Sawgrass in Ponte Vedra Beach, Fla., hosted CEOs from North American companies, awarding $100,000 to the winners’ favorite charities. Autotrader’s ex-CEO Chip Perry was the winner of the first event, donating his prize money of $20,000 to Watauga (N.C.) Humane Society.

About iGATE

iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE’s multi-location global organization has a talent pool of more than 28,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; energy and utilities; public sector; and independent software vendors. Please visit www.iGATE.com for more information.

iGATE Corporation is listed on NASDAQ under the symbol "IGTE."

Follow iGATE on Twitter: @iGATE_Corp (https://twitter.com/iGATE_Corp)
Follow iGATE CEO Cup on Twitter: @iGATECEOCup (https://twitter.com/iGATECEOCup)
iGATE on FaceBook: www.facebook.com\igatecorporation

About Gary Player

Gary Player, often referred to as the Black Knight, symbolizes all that world class golf is or was ever intended to be. Celebrating his 60th anniversary as a professional golfer in 2013, Player is a champion in every sense of the word. He has won 165 professional tournaments worldwide, and through the philanthropic efforts of The Player Foundation generated over $50 million dollars for the education of underprivileged children. Player, a master of the game, and a world leader in golf course design is credited with shaping more than 325 courses worldwide.

When Gary Player won the US Open in 1965 at age 29, he became only the third golfer to win the Grand Slam, following Ben Hogan and Gene Sarazen. Since then, only Jack Nicklaus and Tiger Woods have added their names to this elite group. Player has, to date, won nine major championships on the regular PGA Tour and nine on the Senior or Champions Tour. He is a three time President’s Cup Captain and in 2000 received South Africa’s Sportsman of the Century Award.

In addition to his 40 years of golf course design, Player currently serves as the Global Ambassador to the World Golf Hall of Fame and holds an Honorary Doctor of Laws degree from St. Andrews University. His legendary career and humanitarian endeavors have been acknowledged by numerous awards, including the 2012 PGA Tour Lifetime Achievement Award, the 2006 PGA Tour Payne Stewart Award, and the 2003 Laureus Lifetime Achievement Award.

Born in Johannesburg, South Africa, Player has circled the globe in pursuit of sporting events, and after journeying over 15 million miles, or 25 million kilometers, he is widely recognized as The World’s Most Traveled Athlete™.  When not traveling to or from sporting events, Player divides his time between the South African stud farm, where he has bred over 2000 winning thoroughbred race horses, and his residence on Jupiter Island in Hobe Sound, Florida.