Kanbay
 |
|
| subsidiary | |
| Industry | Information Technology |
| Fate | acquired by Capgemini |
| Founded | 1989 |
| Defunct | 2006 |
| Headquarters |
Chicago Pune Hyderabad Chennai |
|
Key people
|
Raymond Spencer, Chairman |
| Revenue | US$ 230.5 million |
|
Number of employees
|
6500 (2006) |
| Website | http://www.kanbay.com |
Kanbay International, Inc. was an Indian-based global information technology (IT) services firm with about 6900 associates worldwide that later created a second Headquarters in the United States. Founded in 1989, the organization offered management consulting, technology integration, application development, and outsourcing strategies. Kanbay is now a division of Capgemini under the name Financial Services Global Business Unit (FS-GBU).
Kanbay was founded in 1989 by Raymond Spencer of Australia, John Patterson of Canada, and Dileep Nath of India. All three had worked together in the late 1980s at the Institute of Cultural Affairs, a nonprofit in Maharashtra. Spencer lived in Chicago at the time when Kanbay was established, and headquarters were placed there. In September 1998, venture capital firm Safeguard Scientifics, Inc acquired an interest in Kanbay, equating to roughly 25 percent. Revenues for Kanbay in 1999 were $44.2 million. In October 2000, Kanbay etered into the Australian market with the acquisition of Megatec, an Australian distributor. Megatec was a $15 million Melbourne, Australia-based ebusiness products and solutions firm. In the summer of 2001, Kanbay announced its ISO 9001 certification. By the end of 2003, major clients included Household International, HSBC Group, Morgan Stanley, CitiFinancial, Development Bank of Singapore, ABN-AMRO and Sun Life Financial. Revenues in 2003 were $107.2 million, with net income of $11.4 million.
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Wikipedia