IT consulting and services major Datamatics has signed a joint venture with Stockholm-based high-tech consulting company Cybercom for creating IT solutions, targeted at the global market.
The companies will set up a joint venture firm - Cybercom Datamatics Information Solutions - and will develop technologies based on Enterprise Java, tool-based content management, .Net and e-learning.
Datamatics and Cybercom will have equal stake in the new firm, while its board will also be equally represented by members of both the companies. The new company will commence operations in this month, Datamatics informed the Bombay Stock Exchange on Thursday.
The companies will appoint a "local CEO", who would be reporting to the board.
"The Nordic markets, particularly the telecom sector, are attractive, and Cybercom provides a local customer interface, which complements Datamatics strengths. We believe that together we can provide enhanced service offerings and build a more competitive business together," Datamatics managing director Rahul Kanodia said.
According to Cybercom Group executive vice president Cybercom Group, "As part of our growth strategy, we are now focusing on India as an offshore base, and with Datamatics, we have a strong partner in leveraging the offshore advantage. India has well-developed and mature IT service industry. We see this as business critical and important for our growth strategy." Cybercom offers business-critical IT solutions within telecom and selected technologies.