Infosys Technology Ltd (NASDAQ: INFY) and the Wharton School of the University of Pennsylvania today announced the winners of the Wharton Infosys Business Transformation Awards (WIBTA), 2005, North America. The awards recognize visionaries and organizations that use technology in an innovative and creative manner to revolutionize their industries.
The winners from North America were formally recognized last night at Confluence 2005, Infosys' customer conference, in Orlando. Awards were presented in two categories: "Enterprise Business Transformation Award" and "Technology Change Agent Award."
InnoCentive, the first online science-based collaboration forum, has been awarded the "Enterprise Business Transformation Award" for its online research and development network that connects the global scientific community. This award recognizes one organization in North America that has made the best use of information technology for business transformation. InnoCentive's innovative use of Internet connectivity to create a virtual laboratory can boost scientific innovation and greatly reduce the escalating cost and time required to take a needed product to market. Critical to the company's selection of this award was InnoCentive's outstanding work in creating a totally new way for research-dependent companies to accelerate product development through the use of a Web-based "virtual" research and development (R&D) laboratory.
"We are honored to receive this award for our online research and development network that connects the global scientific community," said Alpheus Bingham, Ph.D., founder, president and CEO of InnoCentive. "We are committed to attracting leading global research-driven companies, and providing them with an open, innovation network to help address their scientific R&D challenges. We want InnoCentive to be synonymous with the global community and that has now become a reality."
Vivek Ranadivé, chairman and CEO of TIBCO Software Inc., has been awarded the "Technology Change Agent Award." This award honors an individual in North America who has been a key driver in using technological innovation as a tool for business transformation. Mr. Ranadivé has established himself as a visionary leader who helped realize the future of integration, and continues to champion both real-time business and emerging technology that enables companies to unleash the power of information across enterprises - allowing companies to become more competitive. Through his leadership, TIBCO demonstrates leadership in helping companies become more cost-effective, more agile and more efficient.
Commenting on having won the award, Vivek Ranadivé, chairman and CEO, TIBCO Software Inc. said, "Bringing together the business acumen of a world-class business school with that of a world leader in information technology, the WIBTA is truly unique in its point of view. There is no other award that recognizes organizational transformation through IT with the same comprehensive understanding of both the business and technology impact. As a result, receiving the 2005 Technology Change Agent award is an honor and a career highpoint I will treasure for many years to come."
Announcing WIBTA 2005 North America winners, S Gopalakrishnan, COO and Member of the Board for Infosys Technologies said, "These awards recognize innovation excellence in information technology with industry-wide impact. The entire panel was impressed with many of this year's entries, but both InnoCentive and Vivek Ranadivé distinguished themselves by demonstrating new performance trends with a potential to re-define industry and business models."
"Three years ago, the Wharton School joined with Infosys Technologies Limited to express our shared commitment to business innovation through the establishment of the Wharton-Infosys Business Transformation Awards," said Patrick Harker, Dean of the Wharton School. "We continue to be proud of the partnership that sponsors these awards, and we are delighted to join in honoring the companies selected this year."
Applications were judged by a panel that includes thought leaders such as Esther Dyson, Chairman of EDventure Holdings, Sir Paul Judge, Chairman of Schroder Income Fund, N.R. Narayana Murthy, Chairman of the Board, Infosys Technologies Ltd. And Dr. Habir Singh, Co-director of the Mack Center at the Wharton School of the University of Pennsylvania. The panel also includes industry leaders such as Michael Eskew, Chairman and CEO, United Parcel Service (UPS), and David Boyls, Founder and Principal, CXO Technology Advisory, Pty. Ltd.
In the past month, Infosys and Wharton have given out WIBTA awards to some of the most respected companies and individuals across the world. Winners for the Enterprise Business Transformation Award 2005 include The Royal Bank of Scotland Group (EMEA), Samsung Electronics Co., Ltd (APAC) and TecMédica (Latin America). Winners for the Technology Change Agent Award 2005 include Yair Goldfinger Co-Founder & CTO, Dotomi Inc (EMEA), Ying Wu, Vice Chairman & CEO, UTStarcom China (APAC) Francisco Martinez de Valesco, Founder, BNC Neology (Latin America). Additional details on the WIBTA jury and winners are available at www.wibta.com.
About Infosys Technologies Limited
Infosys (NASDAQ:INFY) defines, designs and delivers IT enabled business solutions. These provide our clients with strategic differentiation and operational superiority, thereby increasing their competitiveness. Each solution is delivered with the industry-benchmark Infosys Predictability that gives our clients peace of mind. With Infosys, they are assured of a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 46,000 employees in over 30 offices worldwide. For more information, visit
About the Wharton School and the Mack Center for Technological Innovation
The Wharton School of the University of Pennsylvania is recognized around the world for its academic strengths across every major discipline and at every level of business education. Founded in 1881 as the first collegiate business school in the nation, Wharton has approximately 4,600 undergraduate, MBA, Executive MBA, and doctoral students, more than 8,000 participants in its executive education programs annually, and an alumni network of more than 80,000 worldwide. Bringing together leaders from business, government, and labor, the Mack Center provides a forum for probing critical issues, discussing research, and planning future study. As the umbrella organization for all of Wharton's technology management initiatives, the center supports the research and publishing activities of Wharton faculty members, and supports a student-run conference.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2005 and our reports on Form 6-K. These filings are available at
www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.