New Delhi: Russia-based Sitronics on Tuesday signed a memorandum of understanding with Tech Mahindra for expanding its software solution market in the country.

Tech Mahindra CEO Vineet Nayyar. Photo: Bloomberg.

However, both the companies declined to divulge the financial details of the agreement.

As per the agreement, Tech Mahindra will promote operations support system (OSS) software, and business support systems (BSS) solution of Sitronics India in the domestic market and both parties would mutually explore and leverage their expertise in development, implementation and support of different IT solutions, the company said.

“With Tech Mahindra’s telecom domain expertise, both the parties indent to explore and pursue potential opportunities in India," CanvasM (Tech Mahindra’s mobility business) CEO Jagdish Mitra said.

Sitronics India’s IT solution -- Foris-- is already been used by the telecom operators SSTL, which operates under brand MTS.

“We plan to utilise the synergy between the teams of Foris and of Tech Mahindra not in India only, but abroad as well," Sitronics India vice president marketing and business development Boris Volpe said.