Mastek, Deloitte form global JV

By Our Special Correspondent

MUMBAI, JULY 19. Mastek announced today a joint venture (JV) with Deloitte Consulting that will offer India-based software services in areas such as application development, systems implementation and integration and information technology outsourcing services.

The JV is a strategic move by Deloitte Consulting that will allow the firm to offer its clients around the world custom software development that is faster, more economical and high quality.

The JV with Mastek is the first offshore delivery relationship of its kind ever undertaken by Deloitte Consulting.

It will be based in Mumbai and launch its operations shortly. However, the name of the new company will be decided later.

Mastek and Deloitte Consulting will have equivalent ownership of the JV, while the board of the joint venture company will consist of senior principals from Deloitte Consulting and founder- directors of Mastek.

One of the Deloitte Consulting principals on the JV board, Mr. Raj Joshi, will be the CEO of the JV. Also, to strengthen this relationship, Mastek intends to invite the CEO of the JV to join the Mastek board.

Deloitte Consulting and Mastek also worked together on several major client engagements before forming this JV.

Addressing a press conference here, Mr. Ashank Desai, Chairman and Managing Director of Mastek, said, ``Alliances and partnerships are a critical component of Mastek's vision of `moving up the value chain' and an important strategy for future growth.''

This alliance unites Mastek's software delivery capabilities and service values with Deloitte Consulting's deep domain expertise in customer businesses and breath of global services.

It is anticipated that the JV will leverage complementary capabilities of both firms to deliver exceptional value to its clients. While Mastek will contribute delivery, operations and infrastructure support, Deloitte Consulting will contribute its project management expertise, functional knowledge and worldwide client relationships.

The JV's services will be delivered as part of the broader Deloitte Consulting services to its global clients across the financial services, telecommunications, manufacturing, consumer business, energy, health care, and public sector industry sectors.

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Section  : Business
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