ITC Infotech (USA) Inc. acquires Pyxis Solutions

Bangalore, India - 29 September 2008

ITC Infotech, a global IT services company and a fully owned subsidiary of ITC Ltd, today announced the acquisition of Pyxis Solutions, LLC, a US based niche player offering Quality Assurance (QA) solutions and testing services.

Pyxis offers a full spectrum of services in software Quality Assurance (QA), ranging from user-interface testing to QA process improvements. Their services also include QA management and consulting, quantitative analysis testing and data validation testing. Pyxis has been working with leading Investment Banking institutions and companies in the Banking, Financial Services and Insurance (BFSI) segment providing deep expertise in a large portfolio of customised solutions.

“This strategic acquisition is an important milestone for us. It is a manifestation of our commitment to deepen capabilities and create enduring value for our customers”, said Mr. Sanjiv Puri, Managing Director, ITC Infotech. “Pyxis Solutions brings on board differentiated capabilities and expertise which compliment our service offerings. Their impressive roster of customers will further strengthen our presence in US. We welcome the Pyxis team to the ITC Infotech family.” Mr. Puri further added, “In line with our vision, we are actively seeking synergistic partnerships around our key industry verticals, solution areas and focus technologies.”

Mr. Amar Duggal, CEO, Pyxis Solutions, said, “We are truly excited about ITC Infotech and Pyxis Solutions coming together. We can now bring on board the benefits of scalability, a robust global delivery model, strong offshore base and institutional strengths of being part of a larger group, to provide better services to our customers.”

Mr. Greg Brener, COO, Pyxis Solutions, added “Our unique Pyxis testing methodology combined with the scalability of ITC Infotech will provide a compelling offering.”

Synergies between the two companies are expected to create large opportunities for cross selling by leveraging existing customer relationships of both Pyxis and ITC Infotech. This acquisition will also help in enlarging the geographic reach of services offered and create new opportunities for diversified offerings across industry verticals.

ITC Infotech has a significant presence in the BFSI industry, and has been working with leading banks across the globe on mission critical projects. The company also enjoys a good track record in offering Testing services. ITC Infotech witnessed significant traction in the testing arena with the Interline e-ticketing accelerator and other industry solutions.

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