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Kenya born Indian, who was former Mombasa resident, and his
wife rake in U.S. $ two billion dollars from sale of their tech firm

NEW DELHI India -- A Kenya-born Indian, who grew up in Mombasa, educated in Mumbai and settled in USA has sold his IT company for U.S. $ two billion dollars writes Swami Anand Kul Bhushan.

Yes, a cool two billion dollars.

Bharat Desai and his wife Neeja Sethi co-founded Syntel in 1980 in their apartment in Troy, Michigan, according to a front-page story in the Times of India today. The news is also published by Business Standard.
.

Bharat went to Mumbai and studied at its IIT (Indian Institute of Technology) and migrated to USA.

Desai met Sethi in the US while he was working as a programmer for IT firm Tata Consultancy Services.

Starting off as business partners, Desai and Sethi later got married.

With an initial investment of just $2,000 in their apartment in Troy, Michigan, in 1980, they pulled in a mere $30,000 in first-year sales.

When General Motors became its client in 1982, it got a big boost.

Syntel generated revenues of $924 million in 2017.

Now French IT outsourcing major Atos’s acquired Michigan-based Syntel for $3.4 billion.

Since Bharat Desai and Neerja Sethi together held a 57 per cent stake in Syntel, they have received nearly $2 billion from the sale of their company to the French information technology services group.

 

Kenya born Indian and his wife rake in U.S. $ two billion dollars from sale of their tech firm  | Coastweek

NEW DELHI India -- Syntel building of Chennai is among one of the best office building in the city and known for its unique design. Chennai prides to have some of the most contemporary designs for offices and other corporate buildings.
.
Sethi, 63, was serving as the vice-president of Syntel, while Desai, 65, was the co-chairman of the company, according to the Times of India.

Today, the company employs 23,000 engineers in 30 countries.

It has around 18,000 employees in India, constituting roughly a little over 78 per cent of its global workforce.

The banking, financial services and insurance sector is the biggest focus area for Syntel, which gets over 45 per cent of its revenues from the segment.

North America accounts for close to 90 per cent of Syntel’s gross revenues.

Earlier this month, Neerja Sethi made it to the Forbes’ list of America’s 60 richest self-made women.

Sethi has been ranked 21st with a net worth of a billion dollars.

Desai ranked 1999 in Forbes’ 2018 list of the world’s billionaires with a net worth of $1.1 billion.

His real-time net worth as of July 24, 2018, was $1.6 billion, according to Forbes.

Nasdaq-listed Syntel is an India-centric IT outsourcer.

A spirited discussion is seen among the Times of India readers if this couple is Indian.

"Please don’t call them Indians", wrote in one reader.
.

"The moment they left reservation and corruption infested India, they became Americans."

Wrote another reader:

"He has an Indian Origin.

"At best he is a Kenyan or American.’

Other less acerbic readers commended their achievement and congratulated them.

 
 

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