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MindTree, US firm ink pact for centre in Bangalore

MindTree, US firm ink pact for centre in Bangalore
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First Published: Tue, Jun 26 2007. 02 44 PM IST
Updated: Tue, Jun 26 2007. 02 44 PM IST
PTI
Mumbai: Information technology company MindTree Consulting along with US-based CIT Group Inc, leading global provider of commercial and consumer finance solutions has established an offshore development centre in Bangalore.
“We are pleased to partner with CIT as it aligns its IT organisation to improve its operating efficiencies,” MindTree Consulting president and CEO, IT Services Krishnakumar Natarajan said.
This is the first significant global sourcing initiative designed to streamline MindTree Consulting’s technology operations and improve its operating efficiencies.
In a communique to the Bombay Stock Exchange, MindTree Consulting said the Bangalore development centre would initially employ 75 consultants, who would be responsible for application development and maintenance activities for CIT’s speciality finance, sales, collaboration and corporate IT systems.
The development centre is expected to grow to more than 100 consultants as CIT continues to invest in technology to support its global operations.
“Our extensive experience in the financial services market will enable CIT to lower costs while improving the performance of its IT group,” Natarajan added.
The work would be performed in India and the United States in a collaborative environment. Through this model there is shared ownership and accountability to ensure that the day-to-day work being performed improves the quality of processes, services, controls and metrics at CIT.
Shares of Mindtree were trading at Rs780, up 1.69% on BSE in afternoon trade.
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First Published: Tue, Jun 26 2007. 02 44 PM IST