ITC Infotech Ltd, a wholly owned subsidiary
of ITC Ltd, on Monday announced the signing of a global outsourcing agreement with PTC,
the international software product development company.
ITC Infotech said it has been chosen to
execute the Rs 250-crore assignment for its proven abilities to meet the requirements of
companies for product development and product lifecycle management (PLM) solutions and
services.
PTC is the world’s largest product
development software company, and earned revenues of $740 million in 2002, of which $499
million came from its global software services.
The 39-month agreement with PTC covers the
entire range of service requirements of its full suite of products.
ITC Infotech had been working for PTC
earlier, and has now become the exclusive partner worldwide. It will work offsite as well
as onsite, and effectively become an integral part of the PTC Global Services delivery
system.
ITC Infotech sources said the deal
underscores its position as a preferred top quality software services partner for global
players.
Among other things, ITC Infotech will
provide PTC and its global customers, on-the-implementation of PTC’s software
products, technology support and training.
ITC Infotech is now establishing a
dedicated offshore development centre at Bangalore.
Mr. Sanjay Verma, managing director of ITC
Infotech, pointed out that PTC is a global leader in addressing the product lifecycle
management (PLM) requirements of companies. "ITC Infotech is delighted to have been
selected by PTC as its preferred strategic services partner to support its requirements of
critical services in the Design and PLM domain," he said.
Mr. Anup Singh, chairman of ITC Infotech
India and a director on the board of ITC Ltd, said the deal is a "significant
development" for the company.
"The choice of ITC Infotech as the
preferred global software services partner further reinforces the company’s superior
quality of delivery, top-class facilities, focus on creating business-friendly solutions
for clients world-wide, the total commitment of its management team and the ability to
invest and scale up operations," he said.
"PTC and ITC Infotech are dedicated to
making ITC Infotech an extension of PTC in order to deliver the professional and
innovative solutions our customers need to drive value in their product development
environment," said Mr. C Richard Harrison, PTC president and chief executive officer.
