Our focus on OPD has helped us achieve scale in our target segment, offer a comprehensive range of services and build an understanding of the requirements of the industries in which our customers operate and the underlying technologies that drive those industries. We offer our customers OPD services that allow them to reduce Time-To-Market, perk up the quality of their products, shrink risk of failure during the engineering development process, improve predictability and reliability of the engineering process, while helping them lower their over-all product engineering costs. This has enabled us to broaden our dialogue with potential customers, deepen our relationships with existing customers and diversify our revenue base.

At each stage of the product life cycle, we offer a comprehensive suite of services designed to address the customers' specific needs as products move from different phases of maturity across early to end-of-life. Our services range from research and prototyping, development and testing, consulting services and deployment, to support and maintenance. We have also created a suite of our own value-added products and services including Time-To-market accelerators and tools that give new and existing customers a competitive advantage. We offer innovative financial terms for these products and services including revenue sharing, performance based and royalty arrangements.

We have invested in building a team of industry specialists who have an understanding of the industries in which our customers operate and the competencies that they require. We have established nine competency centers, across our domain, product engineering and platform expertise. These are cross-functional teams which develop capabilities to differentiate, support and promote our core businesses enabling us to harness and leverage our experience and tools within each focus industry. This provides a focal point to attract new customers and to channel our existing customers and concentrate our research and development activities in each targeted industry.

With our experience of working with world's leading software product companies, we have innovated and customized software processes that are specifically tailored for globally distributed development teams. Our internal process framework called Persistent Standard Software Process provides customers with seamless solutions in reduced timeframes enabling them to achieve operating efficiencies and realize significant cost savings. Furthermore, our robust delivery model is flexible so that it can be adapted to respond to customer objectives relating to critical issues such as scalability and security. We believe that our customer-oriented approach and ongoing refinements in our delivery model represent an important competitive advantage.

We have long-standing relationships with customers, which include several Fortune 500 global corporations, built on our successful execution of prior engagements. Our track record of delivering mission-critical solutions, extensive product development experience, and demonstrated industry and technology expertise has helped in forging strong relationships with our major customers and gaining increased business from them. We have a history of high customer retention and derive a significant proportion of our revenue from repeat business.

We are committed to the development of the expertise and know-how of our employees through regular technical seminars and training sessions organized or sponsored by the Company. Our management team is well qualified and experienced in the software product industry and has been in many ways responsible for the growth of our operations. We have attracted investments from prominent Silicon Valley venture capital investors, who are represented on our Board of Directors, and from whose experience we benefit.