NIIT Technologies & Adecco SA Announce Joint Venture

NIIT Technologies Ltd has announced that the Company and Adecco SA, through its wholly owned subsidiary Ajilon Holding Europe, BV have announced a joint venture to deliver world-class application software development and maintenance solutions to Adecco’s clients.

An agreement to incorporate the joint venture was signed on September 07, 2006 in New Delhi by Dieter Scheiff, Chief Executive Officer of Adecco SA, and Arvind Thakur, Chief Executive Officer of the Company, in the presence of Adecco Chairman Klaus J Jacobs and NIIT Co-founder a Chairman Rajendra S Pawar.

Commenting on the joint venture, the Company Chairman Rajendra S Pawar said, "We are delighted to partner with Adecco-the global leader in Human Resources services. This joint venture is a strategic move for both companies-providing Adecco with world-class offshoring capabilities and NIIT Technologies with the opportunity to service a new segment of customers".

The joint venture will leverage the competencies of both organizations-it will support Adecco’s newly-founded IT Business Line with its global client base. The Company will create and maintain a delivery organisation capable of providing services of the highest quality.

The joint venture company will be known as Adecco-NIIT Technologies Pvt Ltd, subject to approval from the Registrar of Companies, and will have equal participation from both NIIT and Adecco.

Source : Equity Bulls

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