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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (10133)	12/20/1999 12:16:00 PM
From: Mohan Marette	Read Replies (1) of 12475

NIIT in JV with U.S. firm niit.com 20-12-1999 22:36:12 (Probity) NIIT Ltd has tied up with U.S. firm Relativity Technologies Inc to help companies change from old computer systems to Internet technologies. "The partnership will address the complex needs of today`s "brick and mortar" companies as they look to transform and integrate their legacy applications with the Internet," a statement from NIIT said. The alliance envisages NIIT using Relativity Technologies` legacy-to-e-Business solution, RescueWare, and the U.S. firm drawing on the Indian company`s consulting experience, it added. The statement did not give details of new revenues expected for either of the companies. NIIT reported a net profit of Rs1.43bn ($33mn) on net sales of Rs5.81bn in the financial year from October 1998 to September 1999. The company`s shares closed Monday at Rs2,710 on the Bombay stock exchange up Rs42.50 rupees from Friday's closing. Relativity Technologies, based in North Carolina, U.S., is privately held. It expects to report revenues of $6mn in calendar 1999.

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