|By PR Newswire||
|February 24, 2014 04:31 AM EST||
BANGALORE, India and ISELIN, New Jersey, February 24, 2014 /PRNewswire/ --
Conferred with Award for "Best IT Company of the Year"
iGATE, the first integrated Technology and Operations Company providing Business Outcomes-based solutions, today announced that it won the prestigious VCCircle Awards 2014 under the 'Best IT Company of the Year' category. The award ceremony was held in Mumbai on February 19, 2014 at Hotel Trident, Nariman Point. The award was given away by the Guest of honour, Mr. Leo Puri, Managing Director, UTI Asset Management.
VCCircle Awards are bestowed to the most outstanding PE/VC-backed Indian companies that not only recorded tremendous growth in their respective industries, but also had a long-standing impact on the economy and the industry in general and the best intermediaries in private equity transactions space. Top notch global and Indian limited partners, private equity investors and some of the most successful entrepreneurs attended the awards function.
Sahad PV, Founder & Publisher, VCCircle said, "The jury of the third edition of VCCircle Awards recognized iGATE as the best IT Company backed by a PE firm for 2013. iGATE joined hands with private equity Company Apax Partners, triggering the biggest M&A deal in the Indian IT sector three years ago. The $1.2-billion leveraged buyout was a gutsy move in an industry that's risk-averse and the steady growth shown by the company after the acquisition is duly commendable."
Accepting the award, Ashok Vemuri, President and Chief Executive Officer, iGATE said, "We are delighted and honored to be presented with this coveted award. It reinforces our commitment to provide value and innovation led solutions to our customers. Backed by scale and growth, we have now regrouped the organization into P&L based business units that allows us to go deeper into select industries, building expertise in combining industry knowledge and technology to solve business challenges. Recognitions like these augur well for our efforts to enable high levels of business efficiencies to our customers."
A five-member jury, comprising industry veterans judged the winners after evaluation on a variety of qualitative and quantitative parameters - such as financial performance, growth, brand salience, the quality of management and business, return on capital employed, etc. The jury was chaired by VK Bansal from Morgan Stanley India and the other four members were Raamdeo Agrawal from Motilal Oswal Financial Services, Rajiv Luthra from Luthra & Luthra Law Offices, Sri Rajan from Bain & Co India and Sanjiv Bikhchandani from Info edge India Ltd.
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 29,500 employees and consistently delivers effective solutions to over 300 companies including Fortune 1000 clients spanning verticals such as: banking and financial services; insurance; healthcare and life sciences; manufacturing; retail and CPG; media and entertainment; energy and utilities; and independent software vendors. Please visit http://www.igate.com for more information.
iGATE Corporation is listed on NASDAQ under the symbol "IGTE."
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Prabhanjan Deshpande "PD"