Monitor

DSQ in JV with BankAm

CHENNAI: DSQ Software has signed a memorandum of understanding with Bank of America Investment Corporation to set up a joint venture to provide global information technology services on the financial services market. The joint venture will have an equity base of $ 20 million. Bank of America will have 52 per cent stake in the venture. DSQ will hold 48 per cent. A release from the company says the venture will focus on three key areas - business consultancy, development of software products and IT outsourcing. - Our Special Correspondent

NIIT bags S$14m order

CHENNAI: Software major NIIT has bagged two software contracts valued at S$14 million from two leading Asia Pacific clients recently. The first of these is S$9.5 million contract for outsourcing and facilities management from a large cement manufacturing chain in Thailand. The contract involves working on leading edge technologies and setting up a SAP production centre and offering IT and computer facilities management services. NIIT has also bagged a S$ 4.5 million order from Singapore's Land Transport Authority (LTA) for maintaining its road information management systems.

- Our Corporate Bureau

Polaris ties up with M&I

CHENNAI: Polaris Software has entered into a partnership arrangement with Marshall & Ilsley Corporation (M&I) of the U. S. to develop, market and implement software based on the EastPoint banking system. The alliance, says a release, will give Polaris the licensing rights for the international version of the banking product.

- By Our Special Correspondent

L & T unveils electrical e-commerce

CHENNAI: Larsen & Toubro, the engineering and construction giant, has taken a major e-commerce initiative with the launch of a web- site, www.LNTEBG.com, for its electrical business. It is an exhaustive enterprise information portal with end-to-end integration with its suppliers, stockists, business associates and customers. LNTEBG.com's solution enables its stockists to track orders on-line. Besides offering total visibility to its products and services, the site enables registration for value- added services and technical training.

- Our Corporate Bureau

Vysya Bank, preferred financier for Volvo

BANGALORE: Volvo India has tied up with Vysya Bank as its preferred financing partner for easy financing of Volvo range of trucks and construction equipment. It is the first private bank to enter into a preferred financing partnership with Volvo. Volvo has a customer friendly financing programme for its products. It has a separate customer finance department to facilitate the best possible financing for customers, according to Mr. Ravi Uppal, Managing Director of Volvo. The response from customers is good.

- Our Staff Reporter

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