Troy, Mich., Sept. 23, 1999 - Syntel, Inc., an advanced technology services firm, announce the acquisition of Metier, Inc., a privately held, California-based technology firm. The transaction will be accounted for as a purchase and is expected to be accretive to future earnings. Consideration includes a combination of cash and stock. Metier specializes in assisting middle market clients, particularly in the area of healthcare, manufacturing and financial services, to successfully design and implement data warehousing, e-commerce and ERM solutions. Metier's revenues for the 12 months ended June 30, 1999 were $25 million.
"We carefully evaluated several opportunities to partner with large IT services firms but we chose Syntel because we share a great deal in terms of our corporate cultures to service our customers beyond their expectations," said Vivian Chow, Metier CEO. "Further, Syntel has a unique global business model that enables us to achieve a worldwide reach instantly."
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