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Cybercom Launches Joint Venture in India

By establishing a joint venture with Mumbai-based Datamatics Ltd, Cybercom will be able to provide competitive global services to its customers.

Stockholm, Sweden: In line with its strategy to grow internationally and increase its proportion of major offshore projects, Cybercom has launched an operation in Mumbai. With enterprises increasingly demanding offshore services, which provide best-of-breed solutions and offer cost advantages, Cybercom’s offering becomes more attractive for customers.

“Going forward, we believe that about 15-20% of our revenues will come from offshore engagements,” said Bengt Levin, executive vice president, Cybercom Group. “As part of our growth strategy, we’re now focusing on India as an offshore base. And with Datamatics, we’re investing in the country. India has a well-developed and mature IT service industry. We see this as business critical and important.”

“The Nordic markets, particularly the telecom sector, are very attractive, and Cybercom provides a strong local customer interface which complements Datamatics strengths,” said Rahul Kanodia, Managing Director, Datamatics Limited. “We believe that together we can provide enhanced service offerings and build a more competitive business together.”

Cybercom and Datamatics will equally own the newly started entity. By May 2006, the company’s organisation will be ready to meet customers’ demands. A locally appointed CEO will run the new company and report to a board that consists of equal representation from Cybercom and Datamatics.