Hyderabad, Andhra Pradesh, India, March 9, 2006 -- The decision to open a new ERP Global Delivery and Support CoE follows Kanbay’s recent announcement to acquire Adjoined Consulting, Inc..On February 14, 2006, Kanbay announced that it had signed a definitive agreement to acquire Adjoined for approximately $165 million. A major component of Adjoined’s business constitutes the implementation, hosting and support of major ERP systems, including SAP, Oracle, PeopleSoft and Seibel.

“With over 5,200 associates worldwide, Kanbay has demonstrated its ability to effectively use a global delivery platform.,� said Mr. Cyprian D’Souza, Managing Director, Kanbay India. �We will now extend that ability in the ERP market by leveraging the deep expertise and strong position that Adjoined has developed in this area.�

Mr. D’Souza continued, “This Center of Excellence will help us address the increasing demand in the marketplace to be a single source solution provider offering a full suite of IT services. It will further consolidate our position as a tier-one provider of IT services in the global marketplace.�

The ERP CoE will focus on providing application development & customization, software upgrades, configuration, legacy migration and maintenance & support services for all major ERP systems.

Dayakar Reddy, Head of Hyderabad Solutions Center, said, “Hyderabad is an excellent location to build this CoE, especially give the pool of talented software professionals in the area. We are excited to continue the expansion of our presence in the city.�

Kanbay is constructing a campus in Hyderabad on 15 acres of land at Gachibowli located at a strategic point in the IT district. The campus is near completion and, when fully operational, will be able to house over 3,000 IT staff.

The company announced hiring plans to recruit roughly 200 ERP professionals in the current year for the CoE in Hyderabad. The company has already begun recruiting and is targeting ERP professionals with technical experience primarily in SAP, Oracle and Seibel. Kanbay currently has about 110 ERP professionals trained in PeopleSoft working at Hyderabad

Mr. Ken Coppins, Kanbay’s Executive Vice President, ERP Solutions, commented, “Our existing clients are emphasizing the need for consulting partners that can combine strong domain and technical expertise while leveraging a global delivery platform. ERP is a focus area for Kanbay and we will build this center to offer world-class solutions to our customers.�

The acquisition of Adjoined, scheduled to close by mid-March, enables Kanbay to offer highly integrated, full IT services to more diversified base of clients. It further enables Kanbay to enhance its customer offerings and diversify its client base and sources of revenue growth. For the full year 2005 ended December 31, 2005, Kanbay had revenue of $230.5 million, a 26 percent increase over 2004.

About Kanbay: (Nasdaq: KBAY)
Founded in 1989, Kanbay International, Inc. is a global IT services firm focused on the financial services industry. With over 5,200 associates, Kanbay provides its services primarily to banking institutions, insurance companies, and securities and investment firms. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, and specialized services. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in United States and India as well as Toronto, London, Melbourne, Hong Kong, Singapore and Tokyo. Further information about Kanbay can be found at http://www.kanbay.com.

About Adjoined:
Founded in 2000, Adjoined Consulting is an industry-focused, full-service management consulting, technology services and outsourcing firm that offers strategic operational consulting, leading-edge technology integration, outsourcing solutions and original, independent research. With over 500 employees and more than 200 Global 2000 companies as clients, Adjoined focuses on solving business challenges for clients in the consumer & industrial products and financial services industries, along with delivering further vertical expertise in the communications & media and life sciences industries. Headquartered in Miami, Adjoined also has offices in New York, Boston, Phoenix, Washington, D.C., Atlanta and Tampa. Further information on Adjoined can be found at http://www.adjoined.com.

Contact:
Sangeeta Sundaram,
Kanbay,
+91 (044) 42097400,
szsundaram @ kanbay.com

News Source: Business Wire India