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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (date of earliest event reported): March 9, 2000
iGATE CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 000-21755 25-1802235
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation or organization) Identification No.)
1004 McKee Road
Oakdale, Pennsylvania 15071
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (412) 787-2100
Mastech Corporation
(former name or former address, if changed since last year)
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Item 5. Other Events
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On March 9, 2000, the Company issued a press release announcing its that it had
appointed Bruce Haney as Managing Director, Chief Financial Officer of iGATE
Capital Corporation. A copy of this press release is attached as Exhibit 99.1
Item 7c. Exhibits
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99.1 News release dated March 9, 2000 regarding the appointment of Bruce Haney
as Managing Director, Chief Financial Officer of iGATE Capital Corporation.
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SIGNATURES
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Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
iGATE CAPITAL CORPORATION
DATE: March 9, 2000 By: /s/ Bruce E. Haney
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Chief Financial Officer
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Exhibit Number Description
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99.1 99.1 News release dated March 9, 2000 regarding the
appointment of Bruce Haney as Managing Director, Chief
Financial Officer of iGATE Capital Corporation.
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Exhibit 99.1
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iGATE Capital Appoints Technology Industry Veteran as Chief Financial Officer
First Position Filled in Campaign to Built Elite Management Team for eServices
Holding Company
PITTSBURGH, PA, March 9, 2000-- iGATE Capital Corp. (NASDAQ NM: IGTE), the
Internet-centric holding company for the eServices market, today announced the
appointment of Bruce Haney as Managing Director, Chief Financial Officer.
Haney's skills and background are ideal for this role, which will involve
managing the rapid growth of iGATE's operating companies and enabling their
eventual transition from private entities to publicly-held concerns.
"Bruce has an irrepressible passion for this high-speed environment, and has the
experience and abilities to achieve a great deal for iGATE in both the short-
and long-term," said Sunil Wadhwani, CEO if iGATE Capital. "We are relying
heavily on him to aggressively prepare our operating companies for IPOs."
Before joining iGATE Capital, Haney served as CFO for FORE Systems, Inc., where
he was responsible for communicating corporate strategy and financial results
with Wall Street. Haney worked directly with several analysts who covered FORE
and many other institutional investors, and has attended and spoken at numerous
investor and industry analyst conferences. During his time at FORE, the company
experienced extraordinary growth, going from $500 million in 1997 to $800
million in 1999.
"I'm extremely excited to be part of what may be the most aggressive plan for
growth the market has seen in a long while," Haney said. "iGATE's plans to
rapidly expand present me with the opportunity to leverage my understanding of
emerging markets and assist in scaling these focused entities."
Prior to FORE Systems, Haney was the President and Co-Founder of The Gustine
Company, a privately held commercial real estate development company that
specialized in corporate and retail development. Gustine became the largest
developer in Western Pennsylvania during his tenure.
According to Ashok Trivedi, iGATE Capital's president, "Bruce brings more than
20 years of solid business experience to iGATE, and it's the type of experience
that is a pre-requisite for this small group of managers. We are being extremely
cautious in the hiring of iGATE's Managing Directors; Bruce exceeds our
expectations."
Haney currently also serves on the Board of Directors of Infosage, Inc. and CTR
Systems, Inc., and is a member of the Board of Trustees of the Ellis School. He
has a Master's Degree in Taxation from DePaul University and a Bachelor's degree
in Economics from the University of Pennsylvania's Wharton School.
In addition to managing the financial needs of iGATE's new companies, he is
responsible for providing support and guidance to its nine current operating
subsidiaries:
<TABLE>
<CAPTION>
Company Market
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<S> <C>
Emplifi Consulting Enterprise Web Integration
Mascot Systems Web-Focused Offshore Services
Enterprise Network Solutions Network Consulting
eJiva Customer Care Solutions/Internet Trading Solutions
Symphoni Web Marketing Solutions
IRG, Inc. Business Intelligence/Information Data Management
iGATE Europe Web Integration Services for the European Market
iProcess Web-based Business Process Outsourcing (offshore)
Extranet e-Vendor Management
</TABLE>
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About iGATE Capital
iGATE Capital (NASDAQ: IGTE) creates, acquires and builds leading eServices
companies in existing and emerging segments within the market. iGATE companies
provide enterprise Web integration, network consulting, Customer Care and
Internet Trading Solutions, Web-based Business Process Outsourcing Web-focused
offshore services and eVendor Management to clients around the world. iGATE
Capital has offices in New York, Atlanta and Pittsburgh. For more information,
please click on www.igatecapital.com or call 1-887-410-GATE.
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"Safe Harbor" Statements under the Private Securities Litigation Reform Act of
1995: Statements made in this press release which are not historical facts,
including those that refer to iGATE's plans, beliefs and intentions, are
"forward-looking statements" that involve risks and uncertainties. These risks
and uncertainties could cause actual results to differ materially from the
forward-looking statements, and include, but are not limited to, iGATE's ability
to create, acquire, and build new businesses, to achieve collaboration among its
existing business, to locate appropriate new opportunities for investment, and
to scale its existing and any new businesses. For a more complete description of
the risks that apply to iGATE's business, please refer to the Company's filings
with the Securities and Exchange Commission. The Company's actual results may
differ materially from the results anticipated in these forward-looking
statements as a result of certain factors set forth under Risk Factors and
elsewhere in the Company's Annual Report on Form 10-K with the Securities and
Exchange Commission on March 31, 1999.
