Business Mantra News
An IT Service Company Syntel was sold by couple from Indian American base, Mr. Bharat Desai and Ms. Neerja Sethi to French IT Company Atos for US $3.4 Billion of which their share was US $2.0 Billion.
Mr. Bharat Desai was born in Kenya, brought up in Mombasa and then in Ahmedabad. He did his Engineering degree from IIT, Bombay and then after job in TCS, moved to US for pursuing MBA in US. He happened to meet Ms. Neerja Sethi there and within 2 years both started IT company on the same lines as of TCS. They later on married each-other.
The said company was started with a mere capital of US $2000 which became a high revenue earning company of US $923 Million in 2017. When in 1982 General Motors became their clients, it gave big encouragement to the couple.
In 1997, Syntel was listed on Nasdaq and in the next year itself it was ranked at 70 in “Hot Growth Company” in Business Week. It was ranked 2nd in 200 Best Small Companies of America. Mr. Bharat Desai and Ms. Neerja Sethi are declared Billionaires of America after the stock of their company shot up in 2015-16.