Bangalore, India and Fremont, California. June 7, 2006
Infosys Technologies (NASDAQ: INFY), a world leader in consulting and information technology services, and NorthStar, a leading provider of wealth management software solutions to the financial services industry, today announced they have entered into a partnership in which Infosys will deliver consulting services and application development for NorthStar.
The partnership between NorthStar and Infosys will enable clients to take advantage of Infosys' best practices, consulting services and technology expertise to build integration between NorthStar and third party providers. Delivering integrated, best-of-breed data, analytics and content through NorthStar's solutions will enhance wealth managers' advisory capabilities and empower them to meet client demand for holistic advice. The partnership also includes joint sales engagement and marketing activities.
Additionally, as a client, NorthStar will leverage Infosys' wealth management product expertise and strong application development and integration capabilities to streamline product development, enhance its product offerings and reduce time-to-market for releases. Infosys' partnership with NorthStar will further enhance its industry expertise by providing the opportunity to work with one of the leading solution providers to wealth management firms.
"We are delighted to have NorthStar as both a client and an alliance partner," said Ashok Vemuri, senior vice president and head of Infosys' Banking & Capital Markets business unit." This relationship is an important part of our strategy and is designed to enrich our offerings to the wealth management segment and enhance our market reach. The synergistic partnership with NorthStar will deliver clear competitive advantage to our clients."
All services and partner activity will be delivered via the Alliances & Product Services Group within the Infosys Banking & Capital Markets business unit. The Infosys Product Services Group currently has teams deployed for NorthStar in San Francisco, CA, New York, NY and Pune, India.
"Our partnership with Infosys demonstrates our commitment to providing clients with the global reach they may need, and to ensuring third party providers such as Infosys have the training and expertise to support and extend the NorthStar offering," said Collin Cohen, president of NorthStar. "Leveraging Infosys' understanding of the financial services industry, deep client relationships, and global resources allows us to deliver even greater value to our clients."
Infosys (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions. These provide our clients with strategic differentiation and operational superiority, thereby increasing their competitiveness. Each solution we provide is delivered with the industry-benchmark "Infosys Predictability" that gives our clients peace of mind. With Infosys, they are assured of a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has more than 52,000 employees and 36 sales and marketing offices across 17 countries. For more information visit www.infosys.com.
NorthStar is a leading provider of enterprise-class advisory software solutions for financial services institutions, including broker dealers, banks & trusts, asset managers, and service providers to Registered Investment Advisors (RIA). NorthStar offers an integrated suite of advisory solutions built on an enterprise wealth management platform that drives the full lifecycle of advisory processes in an integrated, streamlined manner and significantly improves advisory efficiency and effectiveness across the firm. NorthStar is backed by venture capital firms Benchmark Capital, H.I.G. Capital, Chess Ventures, Silicon Valley Bank as well as leading financial services institutions including Goldman Sachs, Morgan Stanley and Merrill Lynch.
Statements in connection with this release may include forward-looking statements within the meaning of US Securities laws intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act. These forward-looking statements are subject to risks and uncertainties including those described in our SEC filings available at www.sec.gov including our Annual Report on Form 20-F for the year ended March 31 2006, and actual results may differ materially from those projected by forward-looking statements. We may make additional written and oral forward-looking statements but do not undertake and disclaim any obligation to update them.
For further information, please contact: PR_Global@infosys.com