Silverline in alliance with TIS Worldwide

By Our Staff Correspondent

MUMBAI, AUG. 29. Silverline Technologies is entering into a strategic alliance with TIS Worldwide, an e-business solutions integrator. Through this agreement, Silverline will invest $12.5 million in TIS, establishing it as a minority shareholder and join Goldman Sachs as an outside member of the TIS board. Silverline will become TIS' exclusive software solutions provider in India, while TIS will gain global development capabilities.

The value of the agreement over the next three years is expected to be $25 million to Silverline. TIS will expand its FLITE e- business development labs outside the U.S. to India by opening two labs in Silverline's development centres in Mumbai and Chennai by the end of the year. These labs will enable the rapid prototyping, development, testing and implementation of e- business solutions.

With these new FLITE labs, TIS will be able to offer customers a more extensive range of enterprise services, including e-business application maintainence and 247 customer support. The strong methodologies of both companies - Silverline's SEI CMM Level 4 and ISO 9001 certifications and TIS' proven design and planning methodology - will enable them to co-ordinate business on a global basis.

``TIS' expertise in delivering e-business solutions using its off-site development model, FLITE, combined with our back-office development and deployment strength, make our two companies an ideal fit.'' said Mr. Shankar Iyer, CEO, Silverline Technologies.

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Section  : Business
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