SOURCE: Symphony Services

Symphony Services

November 12, 2009 08:30 ET

Symphony Services Appoints Pradeep Chaudhry as Chief Financial Officer

Industry Veteran to Steer Company's Financial Operations and Build on Product Engineering Services Specialist's Leadership in Engineering Outcome Certainty

PALO ALTO, CA and BANGALORE, INDIA--(Marketwire - November 12, 2009) - Symphony Service Corp., a global company specializing in software product engineering outsourcing services, today announced the appointment of Pradeep Chaudhry as the new chief financial officer. In his position, Chaudhry will oversee all financial operations, focusing on capital structure, budgeting, financial reporting and managing communication with the investor community. Chaudhry will be based in Bangalore and will report to Gordon Brooks, president and chief executive officer, Symphony Services.

"We are delighted to have an experienced financial executive such as Pradeep join as a member of our leadership team. His financial leadership in industries as diverse as telecommunications and financial services, combined with his proven record of success managing world-wide financial operations, will support our own growth in the US, Europe, India and Asia," said Brooks.

Chaudhry brings with him more than 15 years of experience in the field of Corporate Finance with significant expertise in the areas of mergers & acquisitions, planning, pricing accounting, capital raising, tax and regulatory issues. Prior to joining Symphony Services, he had successful stints as chief financial officer at ISGN, Cambridge Solutions Ltd. and Ind-Telesoft. At each of these companies, Chaudhry spearheaded financial operations and was instrumental in maintaining investor relations and raising capital. Earlier, he served in senior management positions at IBM Global Services, Bangalore.

Chaudhry said: "Symphony Services' clear leadership in delivering outsourced product engineering services to ISVs, software-enabled businesses, and companies with products containing embedded software recently reinforced by the Zinnov Consulting Ltd. ranking and pioneering of outcome certainty tied to clients' business objectives, are strong indications of the company's ability to deliver innovation. I'm excited about this opportunity to help the company continue on its growth path as it positively transforms its clients' business globally."

Analysts that cover the software product engineering market such as Gartner, Zinnov Consulting Ltd., NeoIT and the Black Book of Outsourcing, have recognized Symphony Services for its market leadership. The company's focus on guaranteeing outcomes to its clients' product engineering requirements is often cited. Symphony Services' ability to partner closely with clients' high-performing R&D organizations to build innovative products rapidly and economically, while linking results to client business goals such as customer satisfaction and increased revenue, sets the company apart.

About Symphony Services:

Symphony Service Corp. is the only global specialist providing software product engineering outsourcing services that enable clients to achieve outcome certainty. ISV's, software-enabled businesses, and companies whose products contain embedded software partner with Symphony Services to achieve their business goals: from improving product line revenue to raising customer satisfaction, increasing product innovations and reducing time-to-market. The company helps clients drive unparalleled innovation while bringing predictability to costs, schedules and quality of the outsourced engineering process. Symphony Services' capabilities across the full product development lifecycle maximize the ROI for client engineering organizations while delivering market-leading products in Telecom, Healthcare, Energy, Automotive, Consumer Electronics, Financial Services and Internet Commerce.

The company's risk-reward partnership models and focus on transparent, metrics-driven value delivery ensures complete alignment with clients' business and R&D objectives. Utilizing an approach centering on a repeatable, industrialized process that drives productivity across all client engagements while guaranteeing business outcomes, Symphony Services is helping its clients successfully release over 1,200 software products annually. Leveraging the product DNA and superior intellect of its people, the company's approach leads to superior engineering on-time, on-budget, outcome certainty guaranteed. Symphony Services is headquartered in Palo Alto, Calif., with facilities in North America, India, Europe and China. For more information, please visit www.symphonysv.com

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