ITC’s wholly owned subsidiary, ITC Infotech
India Ltd., today announced that it had successfully entered into a large global
outsourcing agreement with PTC (NASDAQ:PMTC), the international software product
development company.
ITC Infotech has been chosen to execute the prized
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 largest product development software company in
the world. It earned a revenue of US $ 740 million in 2002, of which US $ 499 million came
from its global software services. The agreement with PTC covers the entire range of the
service requirements of its full suite of products. It further underscores ITC
Infotech’s position as a preferred top quality software services partner for global
players.
ITC Infotech will effectively become an integral part of
the PTC Global Services delivery system, under the terms of this long-term agreement. The
services that the ITC subsidiary will provide PTC and its global customers, include
on-the-ground implementation of PTC’s software products, services and solutions,
technology support and training. ITC Infotech is now establishing a dedicated Offshore
Development Centre (ODC) in its campus in Bangalore to provide this gamut of services and
support. This will enable PTC to strengthen its customer service and support capabilities
through the outsourcing model.
"In today’s fast changing industrial markets,
global companies seek competitive advantage through rapid and robust product design and
delivery systems. PTC is a global leader in addressing the product lifecycle management
(PLM) requirements of such companies," said Sanjay Verma, Managing Director of ITC
Infotech. "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. Together
we will leverage our synergies to assure the success of our
customers, increase market share and improve operating margins.’’
"This is a significant development for ITC
Infotech," observed Mr. Anup Singh, Chairman, ITC Infotech India Limited, and
Director, ITC Limited. "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 worldwide,
the total commitment of its management team and the ability to invest and scale up
operations," he added.
"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 C.
Richard Harrison, PTC president and chief executive officer. "When PTC’s
Windchill® and Pro/ENGINEER® solutions and services are combined with ITC
Infotech’s global delivery model, the outcome is a truly competitive solution of
unmatched quality for our customers."
About ITC Infotech India Ltd
ITC’s wholly owned IT subsidiary ITC Infotech India
Ltd., is one of the very few IT services companies in the world to have SEI CMM Level 5
accreditation. Through alliances with Microsoft, Sun, IBM, Interwoven and PTC, it offers
software solutions in e-Business, Knowledge Management, Web Content Management, Customer
Relationship Management (CRM) and Collaborative Product Commerce. It has created a
Microsoft Centre of Excellence in E-commerce. It has also set up a unique Sun iPlanet
Proof-of-Concept centre to showcase pilot solutions to global clients in Manufacturing,
FMCG, Banking & Finance, Retail, Agri-business and Hospitality. ITC Infotech’s
clients include Abbey National, BAT, Pharmacia and Sony, among others. For further
information about the company, visit www.itcinfotech.com.
About PTC
PTC is the world’s largest software company with a
total commitment to product development. The company services more than 35,000 customers
worldwide. It earned a revenue of US$ 499.0 million from providing global services in the
fiscal year ending 2002. PTC develops, markets, and supports software solutions that help
manufacturers win with superior products. Further information on PTC is available at http://www.ptc.com or call 1-888-782-3776,
ext. 901.
Except for the historical information contained herein,
matters discussed in this news release may constitute forward-looking statements that
involve risks and uncertainties that could cause actual results to differ materially from
those projected. These include: the success of our initiatives to facilitate our
customer's understanding of the benefits of
our PLM solutions, including return on investment and value
creation; our successful development and integration of the technology necessary to offer
an integrated Product
Development System PTC's and ITC Infotech's ability to
anticipate and adequately respond to evolving customer requirements and effectively
coordinate and manage joint
activities (including sales, marketing, implementation and
support) in order to deliver products and services that meet those requirements; the
success of our partnering, distribution and customer satisfaction initiatives; the success
of our cost reduction initiatives; and the effects of a weakening economy which may impact
the overall demand for software and related services; as well as other risks and
uncertainties detailed from time to time in reports filed by PTC with the Securities and
Exchange Commission, including the Company’s most recent reports on Form 10-K and
10-Q.
PTC and its logo, Product First, The Product Development
Company, Create Collaborate Control, Simple Powerful Connected, Pro/ENGINEER, Wildfire,
Windchill, and all PTC product names and logos are trademarks or registered trademarks of
Parametric Technology Corporation or its subsidiaries in the United States and in other
countries.
