Factonomy Seals Deal With Infospectrum In India
MUMBAI, India – February 8, 2011
Factonomy Ltd, a Scottish vendor of innovative enterprise business solutions, announced today that they have completed a deal with product development firm Infospectrum Pvt Ltd to partner in the development of systems for two leading US banking clients as the first part of a long term arrangement expected to be worth $700,000 in the current year.
Infospectrum (now Persistent) 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.”
Amitabh Shrivastava, Director and Head of Worldwide Customer Delivery, said the feeling at Infospectrum was one of excitement to be working with the Factonomy Framework as it is an great enabler when producing enterprise class solutions, defect free, within a timescale that was previously impossible.
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.
“This is a great example of the Scotland and India working together to provide global solutions. I congratulate both companies on their agreement today and their undoubted success in the future, said Mark Dolan, Country Manager India, Scottish Development International.
“This exciting development is one more example of the great strength and tradition of Scottish company innovation and development expertise and events such as the NASSCOM Leadership Forum are the ideal platform for Scottish and Indian firms to establish more mutually beneficial partnerships. We are delighted with the successful outcomes of this year’s event.”
Notes to Editors:
1. Factonomy Ltd is a software company that has created a ground-breaking software development environment, known as the Factonomy Framework, which provides developers with unmatched speed and agility when creating enterprise applications using Declarative XML. Factonomy licenses its strategic application framework to enable the agile and flexible development of tactical business solutions. Unlike any other development platform, the Factonomy Framework allows developers to work independently on functionality, content and interface, so they can deliver solutions which are agile, flexible and cost effective. Factonomy was founded in 2003 by Graeme Bryce and licenses the framework to clients and systems integrators seeking to reduce the time and cost it takes to develop applications. Factonomy has a broad portfolio of national and international clients including a number of large banks and UK government agencies.
2. Infospectrum is a product engineering and technology services company. Customers outsource their product development and maintenance work to them. By leveraging their Domain Expertise, they provide a complete range of Technology Services in product conceptualization, user experience, design, development, maintenance, re-engineering, migration, and independent testing and validation.Infospectrum India Pvt Ltd, #20 IT Park, MDC Parsodi, Nagpur 440022
http://www.info-spectrum.com
3. Scottish Development International (SDI) is a government organisation which helps overseas businesses tap into Scotland’s key strengths in knowledge, high level skills, technology and innovation. SDI also works to help Scottish companies do more business overseas and to promote Scotland as a good place to live and work. It is jointly operated by the Scottish Government and Scottish Enterprise. Its work is guided by the Scottish Government’s strategy for economic development in Scotland. In Asia, SDI has offices in New Delhi, Mumbai, Beijing, Shanghai, Hong Kong, Tokyo, Seoul, Taipei, Singapore and Sydney.
www.sdi.co.uk
