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According to Gartner, the Magic Quadrant for North American Offshore ApplicationServices, 2007, analyzes the market for application services delivered in a globaldelivery model (GDM). The relative positioning of vendors in this Magic Quadrant isbased on factors that Gartner has determined to be relevant to this market. In thereport, Gartner evaluated 29 service providers across North America on their abilityto execute and their completeness of vision.
Our strategy to build competencies in targeted niche areas of application serviceshas led to a high satisfaction level from our 164 clients, said Atul Nishar,Executive Chairman, Hexaware Technologies adding, Our positioning in the NichePlayers quadrant reiterates our ability to execute in our focused applicationservices.
Hexaware recently entered a joint venture to launch Risk Technology International(RiskTech). The new entity focuses exclusively on offering a comprehensive suite oftechnology-intensive solutions in the domain of enterprise risk and compliancemanagement, primarily for financial institutions worldwide.
About Hexaware
Hexaware is a leading global provider of IT and BPO services. The Company hasachieved leadership position in domains such as Banking, Financial Services,Insurance, Transportation, Logistics and HR-IT solutions. Hexaware focuses ondelivering business results leveraging technology solutions and specializes inBusiness Intelligence & Analytics, Enterprise Applications, Independent Testing andLegacy Modernization. Hexaware has been providing technology solutions for businessfor 17 years and offers world class service delivery, technology leadership andskilled human capital. For additional information logon to www.hexaware.com
About the Magic Quadrant
The Magic Quadrant is copyrighted 2007 by Gartner, Inc. and is reused withpermission. The Magic Quadrant is a graphical representation of a marketplace at andfor a specific time period. It depicts Gartner's analysis of how certain vendorsmeasure against criteria for that marketplace, as defined by Gartner. Gartner doesnot endorse any vendor, product or service depicted in the Magic Quadrant, and doesnot advise technology users to select only those vendors placed in the "NichePlayers" quadrant. The Magic Quadrant is intended solely as a research tool, and isnot meant to be a specific guide to action. Gartner disclaims all warranties,express or implied, with respect to this research, including any warranties ofmerchantability or fitness for a particular purpose.
Safe Harbor StatementCertain statements on this press release concerning our future growth prospects areforward-looking statements, which involve a number of risks, and uncertainties thatcould cause actual results to differ materially from those in such forward-lookingstatements. The risks and uncertainties relating to these statements include, butare not limited to, risks and uncertainties regarding fluctuations in earnings, ourability to manage growth, intense competition in IT services including those factorswhich may affect our cost advantage, wage increases, our ability to attract andretain highly skilled professionals, time and cost overruns on fixed-price,fixed-time frame contracts, client concentration, restrictions on immigration, ourability to manage our international operations, reduced demand for technology in ourkey focus areas, disruptions in telecommunication networks, our ability tosuccessfully complete and integrate potential acquisitions, liability for damages onour service contracts, the success of the companies in which Hexaware has madestrategic investments, withdrawal of governmental fiscal incentives, politicalinstability, legal restrictions on raising capital or acquiring companies outsideIndia, and unauthorized use of our intellectual property and general economicconditions affecting our industry.
For more information contact:Swapna Bhandarkar/ Effie CoutinhoHexaware Technologies LimitedTel: +91 (22) 66542682 / 83Fax: +91 (22) 22872939e-mail:swapnab@hexawa re.com/effiec@hexaware.com
