Kanbay
| File:KANBAY logo.gif | |
| Company type | Public |
|---|---|
| Industry | Information Technology |
| Founded | 1989 |
Key people | Raymond Spencer, Chairman of the Board |
| Revenue | US $ 230.5 million |
Number of employees | ~5,800 (2006) |
| Website | http://www.kanbay.com |
Founded in 1989, Kanbay International, Inc. (Nasdaq: KBAY) is a global IT services firm focused on the financial services industry. With over 5,800 employees, Kanbay provides its services primarily to credit services companies, banking institutions, capital markets firms, and insurance companies. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, network and system security, and specialized services. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in the U.S., Canada, Europe, Australia, Hong Kong, Singapore, Japan, and India.
Kanbay went public in July 2004 at an IPO price of $13. Kanbay's market cap is about $800 million. Kanbay celebrated its 10th aniversary in October 2005.
History
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Kanbay's history is an enduring demonstration of a global organization that transcends geographical and cultural boundaries
Since our founding in the US, Kanbay today has its presence across four continents. This expansion underscores its basic belief—to be a global organization reaching out to partner for success.
The journey to Kanbay's current accomplishment started in 1989 when Kanbay was founded by Raymond J. Spencer, Dileep Nath, and John Patterson with headquarters in Chicago, IL.
In 1991, Kanbay established our India office to support delivery of software development services, and in 1992, we established a Hong Kong office to serve the Pacific Rim.
1995 saw Kanbay establish what was to become our largest development center. From its new center in Pune (India)—equipped with a dedicated satellite link to North America—Kanbay could now further refine our multi-site approach to address complex issues of project management.
In August 1998, venture capital firm Safeguard Scientifics, Inc. acquired an interest in Kanbay. That November, Kanbay established a Singapore office to expand our ability to serve the Pacific Rim market.
In April 1999, Kanbay established an Australia office in Melbourne, and in June established our UK office in Cambridge.
Growth at Kanbay has never lost steam. In October 1999, Kanbay acquired Megatec, a $15 million Melbourne, Australia-based eBusiness products and solutions firm.
Partnering for success took on a new meaning when in 2000 Morgan Stanley and Household International acquired an equity interest in Kanbay.
In June 2001, Kanbay announced our ISO 9001 certification and in September we established an office in Tokyo. The year ended on a winning note, with Kanbay inaugurating our state-of-the-art technology center in Pune, India in October 2001.
Our India operation expanded to Hyderabad in 2003. In the same year, we achieved our first CMM Level 5 certification for project work. In 2004, Kanbay received one of the first global assessments for CMM Level 5 which validates our global development approach and methodologies, ensuring the Kanbay global experience is the same regardless of region.
2004 also brought two Kanbay milestones. We opened the year by celebrating our 15 year anniversary, and in July, Kanbay International became a publicly traded company, listing on the NASDAQ under the symbol KBAY.
In early 2005, the company acquired Accurum, an IT services provider to the capital markets industry. On August 3, 2005 the company celebrated its one year anniversary as a public company by ringing the NASDAQ bell to open trading.
Kanbay is a global systems integrator providing solutions to the insurance, banking, lending, credit card, and capital markets industries. With corporate offices in Rosemont, Illinois, Kanbay has 14 locations throughout the US, Canada, Europe, Australia, Hong Kong, Singapore, Japan, and India.
Technology service lines
- Mainframe and midrange services
- Distributed Systems
- Testing Services (Functional, Performance, Security, Usability)
- Business Intelligence
Prominent Business Units
Development centres
- Pune
- Chennai
- Hyderabad
- Chicago
Indian branches
Kanbay has branches in the following Indian cities: Pune, Hyderabad, Chennai.
Global units
Kanbay is present in all major financial centers across the world. It has offices in USA, UK, Ireland, Japan, Singapore, Hong Kong, Australia and India. Recently it acquired Accurum - a company in the capital markets space and Adjoined Consulting LLC - a company in full service consulting space with strong focus on Enterprise consulting.