FACTONOMY MAKES DEAL FOR INDIAN MARKET

Factonomy, the Scottish vendor of innovative enterprise business solutions, has completed a deal with product development firm Infospectrum Pvt Ltd to partner in the development of systems for two leading US banking clients in India, as the first part of a long term arrangement expected to be worth $700,000 in the current year.

TRI Cap has been an investor in Factonomy since June 2008.

Infospectrum is a leader in the outsourcing of product development and has operations in India, the USA and Europe.

Graeme Bryce, Chief Executive Officer for Factonomy, who signed the agreement with Infospectrum commented, “We are particularly pleased to have found an expert partner in India that understands fully the complex challenges of a global software product strategy, which requires extremely agile working and exceptionally high standards.”

The deal was agreed during a mission of Scottish companies to India for the Nasscom Leadership Forum. The visit was led by Scottish Development International – the government agency which seeks to further strengthen and grow trade and investment links between Scotland and India across key industries where expertise and knowledge can be exchanged to support both countries’ growth ambitions.

 

END

March 2011

Issued on behalf of TRI Cap by Eileen Prior, PR Consultant.
For further information contact Eileen Prior on 07802 180412, or email priorpr@btinternet.com


Visit www.tricapital.co.uk for more information.


 

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