vMoksha transfers R&D unit to US

By SiliconIndia   |   Monday, 24 May 2004, 07:00 Hrs
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BANGALORE: vMoksha Technologies, an IT services company , has transferred its Pune development centre to the Atlanta-based S1Corporation, a leading global provider of enterprise software solutions to more than 4,000 banks, credit unions and insurance providers .

For vMoksha this is its first success in the BOT (build operate and transfer) model, which it is pursuing as a different business model in the competitive software services industry .

vMoksha had a three year BOT contract with S1 under which S1 after a year could exercise its option and assume control of the development centre.

The Pune development centre has an employee strength of 250. Post-deal, current employees have the option of being a part of S1.

Pawan Kumar, chairman, vMoksha said that BOT was adopted as a strategic business offering to gain customers in the competitive software services export industry.

Customers opting for this model are insulated from the risk of investing, setting up and running a development centre in an environment they are not familiar with.

The successful transition of the Pune development centre to S1, gives vMoksha the confidence and credibility in the BOT business model, he said.

vMoksha's services offerings include product engineering, migration, package implementation and remote support.

The company has built expertise in ERPs such as Peoplesoft and SAP and has set up an Oracle Applications practice. Its industry focus is on banking, financial services, securities and insurance, retail, distribution and healthcare. The company has 700 employees. Other group companies include JadooWorks and vFortress.

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