Date:21/07/2006 URL: http://www.thehindubusinessline.com/2006/07/21/stories/2006072103460400.htm

Back Maveric Systems ties up with UK co

Our Bureau

Chennai , July 20

Independent software testing company Maveric Systems has partnered with UK-based Mission Assurance and Testing Ltd, also an independent software testing provider, for offering managed services. Mission Assurance is a fully owned subsidiary of Capital Group Plc.

A four-stage process, managed services encompass assessment, service definition, transition and delivery, in that order. Of this, Mission Assurance will handle the first two stages while Maveric will handle the last two.

Maveric has worked with Mission Assurance over the last two years. "Earlier, we were into project-specific work (contract based). With this partnership we will have a long-term relationship with customers," said Mr Ranga Reddy, Chief Executive Officer, Maveric Systems. The duration of this partnership depends on the clients serviced and can extend up to three years.

Maveric will invest about Rs 9 crore over the next 18 months to ramp up operations at its facilities in Chennai, Mumbai and Bangalore, besides setting up a new 100-seater facility each in the UK and the US. The company has 300 employees totally.

Pilot projects

It is executing three pilot projects worth between Rs 9 crore and Rs 43 crore each. These are in the insurance, education and content management verticals.

Maveric is also developing a testing tool that will be unveiled by October.

The company reported revenues of about Rs 15 crore for 2005-06. About 90 per cent of this (about Rs 13 crore) comes from the banking, financial services and insurance sectors, and the rest from healthcare and telecom.

The company operates in West Asia, the US and Europe, specifically the UK, remains its largest market. The company has secured orders worth Rs 17.2 crore from the UK for 2006-07.

Aims to double growth

Mr Reddy said the company was aiming to double growth in the UK and European markets. It is targeting sales of about Rs 28 crore for 2006-07.

Currently, about 50 per cent of revenues come from domestic markets and Mr Reddy said this number would reduce due to the partnership with Mission Assurance.