Firm Founded by Dr. Martin Sold For $550M

May 11, 2011

JamesMartin_03Headstrong Corporation — the international provider of comprehensive consulting and IT services founded by long-time Bermuda resident  Dr. James Martin [pictured] – has been sold to Genpact Limited for $550 million in cash.

A global leader in business process and technology management, Genpact announced earlier this year it was in the process of acquiring the firm established by Agar’s Island owner Dr. Martin, the internationally renowned computer scientist, author and philanthropist.

Headstrong was founded in 1981 as James Martin Associates — and later became James Martin & Company – under the leadership of information technology luminary Dr. Martin, who today serves on the board of directors.

Widely regarded as the leading visionary of the Information Age, Dr. Martin is a highly-respected authority on the social, cultural and commercial implications of recent advances in computers and technology.

In September 2002, “Computerworld”, in its 25th anniversary issue, ranked Dr. Martin fourth among the 25 individuals who have most influenced the world of computer science.

His 1977 book, “The Wired Society: A Challenge for Tomorrow,” based on his predictions and progressive views about technology that foresaw the advent of the Internet, was nominated for the Pulitzer Prize.

His recent bestseller, “The Meaning of the 21st Century: A Vital Blueprint for Ensuring Our Future,” takes an incisive look at the planet and the remedial steps he believes need to be taken in order to ensure a viable future. The book was recently adapted into a well-received documentary — shot, in part, in Bermuda — narrated by former resident Michael Douglas shortly before he was diagnosed with cancer.

A widely sought-after international lecturer, Dr. Martin has also spoken before Bermuda organisations including the Chamber of Commerce and the .Net User Group on the challenges and opportunities confronting the world — and the island — in the 21st century.

Dr. Martin earned an M.A. and D.Litt. from Oxford, a D.Sc. from Salford in England, and an honorary D.Eng. from Hokkaido Technical University in Japan for his work on information engineering.

He was a member of the Software Scientific Advisory Board of the US Department of Defense, and advised the British government on telecommunications restructuring. He has provided consulting services to AT&T, IBM, Honeywell, Texas Instruments, and Xerox.

Dr. Martin is the founder of Oxford University’s multidisciplinary 21st Century School, which aims to develop strategies for responding to the most serious problems as well as the most promising opportunities facing the planet in the new century.

The 21st Century School builds on the work of the James Martin Institute for Science and Civilization, which Dr. Martin had endowed with the bulk of his personal fortune. The James Martin Chair of Computing at Oxford, on the other hand, is concerned with advancing the frontiers of system development.

He also established the World Education Corps, a service organisation which brings essential education to poor countries and to underserved schools and communities worldwide.

Dr. Martin was the subject of the recent book “The Change Agent: How To Create A Wonderful World”, based on a series of lengthy interviews author Andrew Crofts conducted with him in Bermuda.

Pramod Bhasin, president and CEO of Genpact, said of the acquisition: “We are thrilled to welcome the highly-talented employees from Headstrong to the Genpact team.

“The critical domain and technology expertise we have gained today, combined with our capabilities in business process management [BPM] and Smart Decision Services that encompass analytics, reengineering and risk management, creates a uniquely powerful value proposition for our clients – from whom we’ve already received terrific feedback.

“Joint teams are focused on several potential cross-selling opportunities and we have dedicated senior leaders from Genpact and Headstrong working on the integration. We are confident of delivering enhanced value to our clients, shareholders and employees,”

Headstrong CEO Sandeep Sahai commented: “On behalf of the Headstrong team, we are excited to continue on this journey in becoming the leading global provider of domain-led services to the capital markets industry and other high-growth verticals.

“It has not taken long to realise how well our organisations are synchronising and working together in developing innovative solutions to meet our clients’ business needs. Now that the transaction is complete, Headstrong is elated to be a part of Genpact with its extensive global footprint, employee development focus, deep business process management expertise, and performance-driven commitment to its clients.”

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