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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (6202)9/1/1999 10:40:00 PM
From: Mohan Marette  Read Replies (1) of 12475
 
Mastech, GE Cap in joint venture

mastech.com

Our Bureau

BANGALORE, Sept. 1 (BusinessLine)

MASTECH Corp, a provider of information technology services, on Wednesday announced that it has formed a strategic relationship with GE Capital, a wholly-owned subsidiary of General Electric Company. The relationship includes a business processing joint venture in India, and a $30-million equity investment in Mastech by GE Capital.

GE Capital and Mastech have agreed to form a 50:50 joint venture to provide business processing services to major global customers. The joint venture aims to become a world leader in the business process outsourcing (BPO) market, currently projected to be at $44 billions, with double-digit growth expected over the next five years.

The joint venture will provide processing and support services in areas such as accounting, transaction services, help desk, call centre services and related BPO services. The distinct value proposition of this joint venture will be to provide these services more cost effectively by leveraging India's intellectual talent.

GE Capital has also agreed to invest $30 millions in Mastech and to target providing $122 millions in IT services business to Mastech from GE and affiliate companies over a three-year period.
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