Mumbai: Omnitech Infosolutions Ltd has entered into an agreement with Japanese firm Sanwell Company Ltd (SWL) for setting up a Joint venture - Arham Technologies Company Ltd (ATCL) with a total investment of $ 1million (Rs 4crore).
ATCL would undertake business in IT consultancy, software development for embedded systems, infrastructure management and performance management services for telecom, banking and financial services for Japanese market.
Omnitech has set up a subsidiary company, Omnitech TSB Company Ltd, incorporated under the Laws of Japan, which will pick up 60% stake, while Sanwell will hold 40% stake in ATCL.
“The joint venture will add 20% revenue for Omnitech Solutions in two year’s period. It will also bring to the fore the India advantage and Japanese culture together to create value in the IT space for all stakeholders,” Omnitech Manging Director Atul Hemani told reporters here today.
Omnitech will bring value by way of technology skills, establishing the organizational structure for Japanese language learning for software engineers, whereas Sanwell will introduce its current clients to ATCL.
“The demand for IT industry has been growing rapidly in Japan since last five years. Japan is keen to utilize the skills and power of the young software engineers of India,” Sanwell President Imai said.
Several Indian software majors like TCS, Wipro and Patni have seen huge potential and entered into the Japanese market, Hemani added.